Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 11.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 133,349 shares of the medical research company’s stock after acquiring an additional 13,661 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Laboratory Co. of America worth $30,557,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Korea Investment CORP grew its position in shares of Laboratory Co. of America by 36.0% in the fourth quarter. Korea Investment CORP now owns 37,058 shares of the medical research company’s stock valued at $8,498,000 after purchasing an additional 9,800 shares during the period. Graney & King LLC purchased a new stake in Laboratory Co. of America in the 4th quarter valued at about $26,000. Banco BTG Pactual S.A. acquired a new position in shares of Laboratory Co. of America during the 4th quarter valued at about $775,000. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Laboratory Co. of America by 3.1% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 9,384 shares of the medical research company’s stock worth $2,152,000 after acquiring an additional 281 shares during the period. Finally, TIAA Trust National Association boosted its position in shares of Laboratory Co. of America by 2.0% in the fourth quarter. TIAA Trust National Association now owns 3,787 shares of the medical research company’s stock worth $868,000 after acquiring an additional 75 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. This represents a 7.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at $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 quarter, insiders sold 14,500 shares of company stock worth $3,577,572. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Down 0.8 %

LH stock opened at $229.75 on Friday. The company has a market capitalization of $19.23 billion, a P/E ratio of 26.05, a PEG ratio of 1.71 and a beta of 1.12. The firm has a 50 day simple moving average of $244.80 and a 200-day simple moving average of $234.58. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping the consensus estimate 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%. On average, equities research analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.72 per share. 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%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays dropped their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Jefferies Financial Group lifted their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Finally, Bank of America upped 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. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.92.

Laboratory Co. of America Profile

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