Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,472 shares of the medical research company’s stock after selling 3,124 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Laboratory Co. of America were worth $9,740,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LH. Empowered Funds LLC increased its stake in Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after purchasing an additional 43 shares in the last quarter. SP Asset Management LLC increased its position in shares of Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after acquiring an additional 43 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Laboratory Co. of America by 0.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after acquiring an additional 45 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Laboratory Co. of America by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock worth $1,650,000 after acquiring an additional 46 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock valued at $81,000 after purchasing an additional 50 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LH. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America raised their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. UBS Group dropped their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Piper Sandler raised their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Jefferies Financial Group upped their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $269.92.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction dated 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. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,500 shares of company stock worth $3,577,572. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.8 %

Shares of LH opened at $229.75 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The firm has a market cap of $19.23 billion, a P/E ratio of 26.05, a PEG ratio of 1.71 and a beta of 1.12. The stock’s 50 day moving average is $244.80 and its two-hundred day moving average is $234.58. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

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

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Laboratory Co. of America Company Profile

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