TIAA Trust National Association Boosts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

TIAA Trust National Association boosted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,787 shares of the medical research company’s stock after acquiring an additional 75 shares during the period. TIAA Trust National Association’s holdings in Laboratory Co. of America were worth $868,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of LH. Fortitude Family Office LLC grew its position in shares of Laboratory Co. of America by 312.5% during the fourth 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 last quarter. Geneos Wealth Management Inc. increased its stake in Laboratory Co. of America by 309.8% in 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 during the period. Human Investing LLC purchased a new stake in shares of Laboratory Co. of America in the fourth quarter valued at about $39,000. True Wealth Design LLC boosted its stake in shares of Laboratory Co. of America by 3,660.0% during the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after buying an additional 183 shares during the period. Finally, Heck Capital Advisors LLC purchased a new position in shares of Laboratory Co. of America during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.7 %

Shares of Laboratory Co. of America stock opened at $231.65 on Friday. The company has a 50-day moving average of $244.97 and a two-hundred day moving average of $234.46. The stock has a market cap of $19.39 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month 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 (EPS) 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, research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.24%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

Analyst Upgrades and Downgrades

Several research firms have commented on LH. UBS Group reduced their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America boosted 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 research note on Friday, December 13th. Barclays reduced their target price on shares of 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, Piper Sandler boosted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $269.92.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Mark S. Schroeder sold 5,339 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $249.23, for a total value of $1,330,638.97. Following the completion of the sale, the chief operating officer now owns 4,960 shares in the company, valued at $1,236,180.80. This represents a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,500 shares of company stock worth $3,577,572. Insiders own 0.85% of the company’s stock.

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.