Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,822,964 shares of the medical research company’s stock after purchasing an additional 41,898 shares during the period. Bank of New York Mellon Corp’s holdings in Laboratory Co. of America were worth $418,042,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LH. Crestwood Advisors Group LLC boosted its position in Laboratory Co. of America by 26.4% during the 4th quarter. Crestwood Advisors Group LLC now owns 1,179 shares of the medical research company’s stock valued at $270,000 after purchasing an additional 246 shares during the period. IFP Advisors Inc lifted its stake in Laboratory Co. of America by 278.5% in the fourth quarter. IFP Advisors Inc now owns 352 shares of the medical research company’s stock valued at $81,000 after buying an additional 259 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Laboratory Co. of America by 29.9% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,607 shares of the medical research company’s stock valued at $2,891,000 after acquiring an additional 2,900 shares during the period. Wealthspire Advisors LLC grew its position in shares of Laboratory Co. of America by 6.5% during the fourth quarter. Wealthspire Advisors LLC now owns 3,844 shares of the medical research company’s stock worth $882,000 after acquiring an additional 233 shares during the last quarter. Finally, Capital City Trust Co. FL increased its holdings in shares of Laboratory Co. of America by 1.5% in the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock worth $3,567,000 after acquiring an additional 223 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the transaction, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This trade represents a 4.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight Gary Gilliland sold 1,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $241.00, for a total transaction of $241,000.00. Following the sale, the director now directly owns 7,712 shares of the company’s stock, valued at $1,858,592. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,058 shares of company stock worth $4,845,585. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Trading Down 0.4 %

Shares of Laboratory Co. of America stock opened at $251.84 on Thursday. The business has a fifty day simple moving average of $240.32 and a 200-day simple moving average of $232.34. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. 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, beating analysts’ consensus estimates 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%. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Analyst Upgrades and Downgrades

LH has been the subject of a number of analyst reports. UBS Group reduced 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. Jefferies Financial Group boosted their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley raised their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $265.75.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.