Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 39.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,730 shares of the medical research company’s stock after purchasing an additional 1,890 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Laboratory Co. of America were worth $1,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SouthState Corp acquired a new position in Laboratory Co. of America during the third quarter worth approximately $28,000. Horizon Bancorp Inc. IN acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $29,000. Fortitude Family Office LLC raised its position in Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Riverview Trust Co boosted its stake in Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares during the period. Finally, Concord Wealth Partners grew its position in Laboratory Co. of America by 43.3% during the 3rd 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. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CMO Amy B. Summy sold 3,672 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the sale, the chief marketing officer now directly owns 4,318 shares in the company, valued at approximately $1,031,613.38. This represents a 45.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock valued at $5,915,209 in the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of several recent research reports. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Bank of America increased their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Barclays increased their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $260.54.

Laboratory Co. of America Stock Up 0.9 %

Shares of NYSE LH opened at $244.63 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The stock’s 50-day simple moving average is $234.62 and its 200-day simple moving average is $226.55. The firm has a market cap of $20.46 billion, a price-to-earnings ratio of 47.32, a PEG ratio of 1.81 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company posted $3.38 EPS. Laboratory Co. of America’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.18%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

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.