Assenagon Asset Management S.A. Buys 122 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Assenagon Asset Management S.A. increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,943 shares of the medical research company’s stock after purchasing an additional 122 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Laboratory Co. of America were worth $904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC grew its stake in shares of Laboratory Co. of America by 115.7% during the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after buying an additional 3,265 shares during the last quarter. Alexander Randolph Advisory Inc. purchased a new position in Laboratory Co. of America during the 3rd quarter valued at $955,000. Mutual of America Capital Management LLC bought a new position in Laboratory Co. of America in the 3rd quarter valued at $2,316,000. Barclays PLC increased its stake in Laboratory Co. of America by 11.8% in the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after purchasing an additional 65,356 shares during the period. Finally, Catalytic Wealth RIA LLC bought a new stake in shares of Laboratory Co. of America during the third quarter worth $527,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

LH stock opened at $246.29 on Friday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 47.64, a PEG ratio of 1.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a 50-day simple moving average of $234.75 and a two-hundred day simple moving average of $226.67.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the company posted $3.38 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 14.51 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of research analyst reports. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird boosted their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, Barclays upped their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $260.54.

Insider Transactions at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the sale, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the transaction, the executive vice president now directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock valued at $5,915,209 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

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.