Massachusetts Financial Services Co. MA Has $131.93 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Massachusetts Financial Services Co. MA trimmed its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575,319 shares of the medical research company’s stock after selling 1,870 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.69% of Laboratory Co. of America worth $131,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LH. Graney & King LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter valued at about $26,000. Fortitude Family Office LLC boosted its position in Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. Geneos Wealth Management Inc. grew its holdings in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after acquiring an additional 127 shares during the last quarter. Human Investing LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at approximately $39,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Laboratory Co. of America during the fourth quarter valued at $44,000. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the sale, the director now owns 13,166 shares in the company, valued at $3,365,624.58. This represents a 3.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Amy B. Summy sold 226 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the transaction, the chief marketing officer now directly owns 4,544 shares in the company, valued at approximately $1,137,817.60. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,258 shares of company stock valued at $3,753,177. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $222.49 on Friday. The firm has a market capitalization of $18.62 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The company has a fifty day moving average of $243.63 and a 200-day moving average of $234.84. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

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, beating 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%. As a group, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.29%. Laboratory Co. of America’s payout ratio is currently 32.65%.

Analyst Ratings Changes

Several analysts recently weighed in on LH shares. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Piper Sandler raised their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Redburn Atlantic started coverage on Laboratory Co. of America in a report on Wednesday. They issued a “buy” rating and a $276.00 target price on the stock. Finally, UBS Group lowered their price target on shares of 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. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.38.

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.