KBC Group NV Increases Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

KBC Group NV boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 101,967 shares of the medical research company’s stock after purchasing an additional 7,159 shares during the period. KBC Group NV’s holdings in Laboratory Co. of America were worth $23,383,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of Laboratory Co. of America by 27.6% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the medical research company’s stock worth $257,000 after acquiring an additional 249 shares during the last quarter. Insight Inv LLC raised its stake in Laboratory Co. of America by 12.3% in the 4th quarter. Insight Inv LLC now owns 3,859 shares of the medical research company’s stock valued at $885,000 after purchasing an additional 424 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Curated Wealth Partners LLC boosted its stake in Laboratory Co. of America by 6.5% during the 4th quarter. Curated Wealth Partners LLC now owns 3,607 shares of the medical research company’s stock worth $827,000 after purchasing an additional 221 shares during the last quarter. Finally, CX Institutional purchased a new stake in shares of Laboratory Co. of America during the fourth quarter worth $214,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the transaction, the director now 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock worth $5,915,209 over the last ninety days. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the topic of several research reports. Piper Sandler raised their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Morgan Stanley increased their price target 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. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $261.77.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $248.44 on Wednesday. The company’s 50 day simple moving average is $235.19 and its 200-day simple moving average is $227.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $250.56. The company has a market capitalization of $20.78 billion, a price-to-earnings ratio of 48.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

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.