Mitsubishi UFJ Trust & Banking Corp Sells 3,124 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,472 shares of the medical research company’s stock after selling 3,124 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Laboratory Co. of America worth $9,740,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in Laboratory Co. of America by 17.0% during the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock valued at $354,528,000 after purchasing an additional 230,708 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $596,000. CreativeOne Wealth LLC raised its position in shares of Laboratory Co. of America by 19.7% during the 3rd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Laboratory Co. of America by 14.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company’s stock valued at $3,953,000 after acquiring an additional 2,234 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Laboratory Co. of America by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 914,019 shares of the medical research company’s stock worth $204,265,000 after acquiring an additional 49,203 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LH has been the topic of a number of recent research reports. Barclays decreased their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group boosted their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.92.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the sale, the chief marketing officer now directly owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,500 shares of company stock valued at $3,577,572. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.8 %

Shares of NYSE LH opened at $229.75 on Friday. The stock has a 50 day moving average price of $244.80 and a 200 day moving average price of $234.58. The firm has a market capitalization of $19.23 billion, a price-to-earnings 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. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were issued 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 1.25%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

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.