UniSuper Management Pty Ltd Boosts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

UniSuper Management Pty Ltd boosted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 16.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,488 shares of the medical research company’s stock after buying an additional 1,519 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Laboratory Co. of America were worth $2,405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Graney & King LLC purchased a new position in shares of Laboratory Co. of America during the 4th quarter valued at about $26,000. Fortitude Family Office LLC raised its stake in Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter worth approximately $39,000. Finally, True Wealth Design LLC increased its stake in shares of Laboratory Co. of America by 3,660.0% in the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after purchasing an additional 183 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on LH. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Piper Sandler lifted their target price 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. Barclays dropped their price target on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Bank of America increased 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. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.92.

Insiders Place Their Bets

In other news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the transaction, the executive vice president now owns 2,171 shares of the company’s stock, valued at approximately $545,572.30. This represents a 37.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’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 value 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. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,500 shares of company stock valued at $3,577,572 over the last three months. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $229.75 on Friday. The firm has a fifty day simple moving average of $244.80 and a two-hundred day simple moving average of $234.58. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $19.23 billion, a P/E ratio of 26.05, a PEG ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH) last issued 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%. On average, analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.25%. Laboratory Co. of America’s dividend payout ratio is presently 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.