Sumitomo Mitsui DS Asset Management Company Ltd Purchases 249 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Laboratory Co. of America Holdings (NYSE:LH) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,787 shares of the medical research company’s stock after purchasing an additional 249 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Laboratory Co. of America were worth $2,244,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SouthState Corp purchased a new position in Laboratory Co. of America in the 3rd quarter worth approximately $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America in the third quarter worth $29,000. Fortitude Family Office LLC increased its stake in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Riverview Trust Co increased its stake in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 107 shares during the last quarter. Finally, Concord Wealth Partners lifted its stake in Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the topic of several recent research reports. UBS Group reduced their price objective on 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. Morgan Stanley lifted 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. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler lifted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $265.31.

Laboratory Co. of America Trading Down 0.5 %

NYSE LH opened at $245.14 on Tuesday. The stock has a market cap of $20.50 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The stock has a 50 day simple moving average of $236.67 and a two-hundred day simple moving average of $229.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS 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, analysts forecast that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the company’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 transaction of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,383 shares of company stock valued at $4,408,373 over the last three months. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company Profile

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