Laboratory Co. of America Holdings (NYSE:LH) Holdings Boosted by National Bank of Canada FI

National Bank of Canada FI raised its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 301.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,171 shares of the medical research company’s stock after purchasing an additional 29,414 shares during the quarter. National Bank of Canada FI’s holdings in Laboratory Co. of America were worth $8,983,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LH. HighPoint Advisor Group LLC lifted its stake in Laboratory Co. of America by 8.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,408 shares of the medical research company’s stock worth $345,000 after acquiring an additional 112 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Laboratory Co. of America by 7.8% in the fourth quarter. Franklin Resources Inc. now owns 22,452 shares of the medical research company’s stock worth $5,149,000 after purchasing an additional 1,615 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Laboratory Co. of America by 18.2% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 4,416 shares of the medical research company’s stock worth $1,013,000 after purchasing an additional 681 shares in the last quarter. Boston Research & Management Inc. grew its position in Laboratory Co. of America by 0.5% during the fourth quarter. Boston Research & Management Inc. now owns 25,337 shares of the medical research company’s stock valued at $5,810,000 after purchasing an additional 128 shares in the last quarter. Finally, Cannell & Spears LLC increased its stake in Laboratory Co. of America by 18.9% in the 4th quarter. Cannell & Spears LLC now owns 202,555 shares of the medical research company’s stock valued at $46,450,000 after buying an additional 32,259 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the sale, the director now directly owns 13,166 shares in the company, valued at approximately $3,365,624.58. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the transaction, the executive vice president now owns 5,302 shares of the company’s stock, valued at $1,228,314.34. The trade was a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,258 shares of company stock valued at $3,753,177. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LH has been the topic of several research analyst reports. UBS Group lowered 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 report on Tuesday, January 28th. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Sunday. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Piper Sandler boosted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research report on Wednesday. They set a “buy” rating and a $276.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $270.38.

Laboratory Co. of America Stock Performance

Shares of LH opened at $222.49 on Friday. The company has a market capitalization of $18.62 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The company’s fifty day moving average price is $243.63 and its 200 day moving average price is $234.90.

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 return on equity of 15.29% and a net margin of 5.73%. As a group, analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.29%. Laboratory Co. of America’s payout ratio is 32.65%.

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.