Prudential PLC Buys 2,249 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Prudential PLC lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 29.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,011 shares of the medical research company’s stock after buying an additional 2,249 shares during the period. Prudential PLC’s holdings in Laboratory Co. of America were worth $2,296,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Graney & King LLC bought a new position in Laboratory Co. of America in the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC increased its stake in shares of Laboratory Co. of America by 312.5% in the 4th 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 during the last quarter. Geneos Wealth Management Inc. raised its holdings 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 worth $39,000 after buying an additional 127 shares in the last quarter. Human Investing LLC bought a new stake in shares of Laboratory Co. of America during the 4th quarter worth $39,000. Finally, Heck Capital Advisors LLC acquired a new stake in Laboratory Co. of America in the fourth quarter valued at about $44,000. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of several research analyst reports. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Sunday. Evercore ISI upgraded shares of 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 report on Tuesday, January 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 on the stock in a research report on Tuesday, January 28th. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price target for the company. Finally, Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Three investment 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. According to data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $270.38.

Laboratory Co. of America Trading Down 4.7 %

LH opened at $222.49 on Monday. 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 $234.95. The stock has a market cap of $18.62 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. 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 issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts predict 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 declared 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 dividend yield of 1.29%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible 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 sale, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,258 shares of company stock valued at $3,753,177 in the last quarter. 0.85% of the stock is currently owned by company insiders.

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.