TIAA Trust National Association Increases Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

TIAA Trust National Association increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,787 shares of the medical research company’s stock after purchasing an additional 75 shares during the quarter. TIAA Trust National Association’s holdings in Laboratory Co. of America were worth $868,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. grew its holdings in Laboratory Co. of America by 9.7% in the third quarter. Daiwa Securities Group Inc. now owns 11,361 shares of the medical research company’s stock valued at $2,539,000 after purchasing an additional 1,006 shares during the period. Private Trust Co. NA boosted its holdings in shares of Laboratory Co. of America by 3.2% in the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after purchasing an additional 41 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Laboratory Co. of America by 3.1% during the 3rd quarter. Bank of Montreal Can now owns 149,191 shares of the medical research company’s stock valued at $33,135,000 after buying an additional 4,439 shares during the period. Qsemble Capital Management LP acquired a new stake in shares of Laboratory Co. of America during the 3rd quarter worth $276,000. Finally, FMR LLC raised its position in shares of Laboratory Co. of America by 17.0% in the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after buying an additional 230,708 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Down 0.7 %

Shares of LH opened at $231.65 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The stock has a 50-day moving average price of $244.97 and a 200 day moving average price of $234.46. The company has a market capitalization of $19.39 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) 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%. Sell-side analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were paid a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.24%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Morgan Stanley upped their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Jefferies Financial Group boosted their price objective on shares of 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. Barclays cut their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Finally, UBS Group lowered their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Three equities research 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $269.92.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the 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. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,500 shares of company stock valued at $3,577,572. Insiders own 0.85% of the company’s stock.

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.