Securian Asset Management Inc. Has $1.02 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Securian Asset Management Inc. trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,453 shares of the medical research company’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Laboratory Co. of America were worth $1,021,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SouthState Corp acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at about $28,000. Fortitude Family Office LLC lifted its stake 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. Geneos Wealth Management Inc. lifted its stake in Laboratory Co. of America by 309.8% in the 4th 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 last quarter. Human Investing LLC acquired a new stake in Laboratory Co. of America in the 4th quarter valued at about $39,000. Finally, True Wealth Design LLC lifted its stake in Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 183 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now owns 12,722 shares of the company’s stock, valued at approximately $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 a total of 14,500 shares of company stock worth $3,577,572 over the last three months. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LH. Jefferies Financial Group raised their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Piper Sandler raised their target price on shares of 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. Bank of America raised their price objective on shares of 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. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, 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 report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $268.38.

Laboratory Co. of America Stock Up 1.8 %

NYSE LH opened at $239.80 on Friday. 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 1-year low of $191.97 and a 1-year high of $258.59. The company has a 50 day moving average of $244.69 and a 200-day moving average of $234.01. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, equities research 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.20%. 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.