Geode Capital Management LLC Has $458.33 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Geode Capital Management LLC lifted its position in Laboratory Co. of America Holdings (NYSE:LH) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,003,998 shares of the medical research company’s stock after acquiring an additional 39,255 shares during the period. Geode Capital Management LLC’s holdings in Laboratory Co. of America were worth $458,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after acquiring an additional 25,469 shares during the period. JPMorgan Chase & Co. lifted its stake in Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after purchasing an additional 167,137 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Laboratory Co. of America by 2.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after purchasing an additional 51,045 shares during the period. Bank of New York Mellon Corp boosted its holdings in Laboratory Co. of America by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock valued at $418,042,000 after purchasing an additional 41,898 shares in the last quarter. Finally, Amundi grew its stake in shares of Laboratory Co. of America by 344.9% in the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock valued at $263,161,000 after purchasing an additional 870,903 shares during the period. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $222.49 on Friday. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.71 and a beta of 1.12. The firm has a fifty day moving average of $243.63 and a two-hundred day moving average of $234.84.

Laboratory Co. of America (NYSE:LH) last released its 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%. As a group, equities research analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors 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 yield of 1.29%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares in the company, valued at approximately $1,228,314.34. This represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,258 shares of company stock valued at $3,753,177. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on LH. UBS Group decreased their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Barclays reduced their target price 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 note on Friday, February 7th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley lifted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.38.

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.