Mn Services Vermogensbeheer B.V. Buys 700 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mn Services Vermogensbeheer B.V. boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 33,298 shares of the medical research company’s stock after purchasing an additional 700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Laboratory Co. of America were worth $7,636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LH. SouthState Corp bought a new position in Laboratory Co. of America in the third quarter worth approximately $28,000. Fortitude Family Office LLC raised its position in Laboratory Co. of America by 312.5% in 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 period. Geneos Wealth Management Inc. raised its position 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 worth $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC bought a new position in Laboratory Co. of America in the fourth quarter worth approximately $39,000. Finally, Kennebec Savings Bank bought a new position in Laboratory Co. of America in the third quarter worth approximately $42,000. Institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of Laboratory Co. of America stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 2,171 shares of the company’s stock, valued at $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,372 shares of company stock valued at $5,175,793. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LH shares. UBS Group decreased 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 research report on Tuesday, January 28th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barclays decreased their price target on shares of 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. Piper Sandler raised their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Jefferies Financial Group raised 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. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $265.75.

Laboratory Co. of America Stock Performance

LH opened at $251.45 on Friday. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 1.71 and a beta of 1.07. The company has a fifty day moving average of $241.20 and a 200 day moving average of $232.64. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two 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 earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s payout ratio is 32.65%.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.