Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Norinchukin Bank The

Norinchukin Bank The grew its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,832 shares of the medical research company’s stock after buying an additional 333 shares during the quarter. Norinchukin Bank The’s holdings in Laboratory Co. of America were worth $879,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new position in Laboratory Co. of America in the fourth quarter valued at about $239,811,000. Amundi increased its stake in Laboratory Co. of America by 344.9% in the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock valued at $263,161,000 after purchasing an additional 870,903 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in Laboratory Co. of America in the 4th quarter valued at approximately $123,415,000. Alliancebernstein L.P. boosted its position in Laboratory Co. of America by 59.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company’s stock worth $234,160,000 after purchasing an additional 380,624 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after purchasing an additional 167,137 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $212.43 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company has a market cap of $17.77 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The firm has a 50 day moving average price of $236.97 and a 200 day moving average price of $234.96.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Sell-side analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.36%. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Wall Street Analysts Forecast Growth

LH has been the subject of several research reports. Jefferies Financial Group lifted their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Truist Financial cut their target price on shares of Laboratory Co. of America from $285.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Barclays lowered their price target on shares of Laboratory Co. of America from $260.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Redburn Atlantic initiated coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 target price on the stock. Finally, StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $268.77.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the sale, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock valued at $3,518,177 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.