Allstate Corp Acquires Shares of 2,578 Laboratory Co. of America Holdings (NYSE:LH)

Allstate Corp bought a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,578 shares of the medical research company’s stock, valued at approximately $591,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LH. Quantbot Technologies LP acquired a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at about $596,000. CreativeOne Wealth LLC increased its holdings in Laboratory Co. of America by 19.7% in the third quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company’s stock valued at $332,000 after buying an additional 245 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Laboratory Co. of America by 14.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company’s stock valued at $3,953,000 after buying an additional 2,234 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Laboratory Co. of America by 9.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,572 shares of the medical research company’s stock worth $798,000 after buying an additional 300 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Laboratory Co. of America in the 3rd quarter worth approximately $447,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LH shares. Bank of America upped their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. UBS Group reduced their price target 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. Morgan Stanley boosted their price objective on shares of 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. Jefferies Financial Group raised their target price on shares of 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, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their target price for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $269.92.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $232.63 on Wednesday. The stock has a market cap of $19.47 billion, a P/E ratio of 26.38, a P/E/G ratio of 1.71 and a beta of 1.12. The firm’s 50-day simple moving average is $244.45 and its 200 day simple moving average is $234.86. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. 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 released 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 net margin of 5.73% and a return on equity of 15.29%. Equities analysts expect 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 announced 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 1.24%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Insiders Place Their Bets

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the sale, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amy B. Summy sold 758 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the sale, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. This trade represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,258 shares of company stock worth $3,753,177. 0.85% of the stock is owned by 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.