National Pension Service Has $35.14 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

National Pension Service lowered its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 153,240 shares of the medical research company’s stock after selling 5,800 shares during the quarter. National Pension Service’s holdings in Laboratory Co. of America were worth $35,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. SouthState Corp bought a new position in shares of Laboratory Co. of America during the third quarter valued at $28,000. Fortitude Family Office LLC lifted its holdings in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC bought a new position in shares of Laboratory Co. of America during the fourth quarter valued at $39,000. Finally, Kennebec Savings Bank bought a new position in shares of Laboratory Co. of America during the third quarter valued at $42,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value 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 approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the transaction, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,372 shares of company stock worth $5,175,793. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $251.45 on Friday. The firm has a market capitalization of $21.03 billion, a P/E ratio of 28.51, a PEG ratio of 1.71 and a beta of 1.07. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The business has a 50-day moving average of $241.20 and a 200-day moving average of $232.64. 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 (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Analysts Set New Price Targets

LH has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Barclays cut their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Piper Sandler lifted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. UBS Group cut 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. Finally, Bank of America lifted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average price target of $265.75.

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.