Mizuho Securities USA LLC Buys 2,482 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mizuho Securities USA LLC lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 45.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,927 shares of the medical research company’s stock after acquiring an additional 2,482 shares during the quarter. Mizuho Securities USA LLC’s holdings in Laboratory Co. of America were worth $1,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in 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 purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of 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 valued at $39,000 after buying an additional 127 shares in the last quarter. Human Investing LLC bought a new position in Laboratory Co. of America in the 4th quarter worth $39,000. True Wealth Design LLC increased its stake in Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after buying an additional 183 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in Laboratory Co. of America during the fourth quarter valued at about $44,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Trading Up 0.9 %

Shares of LH stock opened at $236.25 on Tuesday. The company has a market cap of $19.77 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The stock’s 50 day simple moving average is $245.21 and its two-hundred day simple moving average is $234.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results 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 return on equity of 15.29% and a net margin of 5.73%. Research analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.22%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LH shares. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Bank of America increased their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays reduced their price objective 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 report on Friday, February 7th. UBS Group cut their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Morgan Stanley boosted their price target on shares of 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. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $268.38.

Insider Activity at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’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. In the last ninety days, insiders have sold 14,500 shares of company stock worth $3,577,572. Insiders own 0.85% of the company’s stock.

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.