2Xideas AG Grows Position in Laboratory Co. of America Holdings (NYSE:LH)

2Xideas AG increased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 49.1% in the 4th quarter, HoldingsChannel reports. The fund owned 56,198 shares of the medical research company’s stock after acquiring an additional 18,495 shares during the period. Laboratory Co. of America accounts for approximately 1.7% of 2Xideas AG’s holdings, making the stock its 22nd largest holding. 2Xideas AG’s holdings in Laboratory Co. of America were worth $12,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in shares of Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after purchasing an additional 43 shares during the last quarter. SP Asset Management LLC increased its holdings in shares of Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after acquiring an additional 43 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Laboratory Co. of America by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after purchasing an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Laboratory Co. of America by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock worth $1,650,000 after acquiring an additional 46 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock valued at $81,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 4.7 %

NYSE LH opened at $222.49 on Friday. The firm has a 50-day simple moving average of $243.63 and a 200 day simple moving average of $234.90. 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 cap of $18.62 billion, a PE ratio of 25.23, a PEG ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping the consensus estimate 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, research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced 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. The ex-dividend date was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.29%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Redburn Atlantic started coverage on Laboratory Co. of America in a research report on Wednesday. They set a “buy” rating and a $276.00 price target for the company. Bank of America lifted 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. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their target price for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Morgan Stanley upped their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.38.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 226 shares of the company’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 transaction of $56,590.40. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the completion of the sale, the executive vice president now directly owns 2,171 shares in the company, valued at $545,572.30. This trade represents a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,258 shares of company stock valued at $3,753,177 over the last three months. Company insiders own 0.85% of the company’s stock.

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.