Corebridge Financial Inc. Has $4.54 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Corebridge Financial Inc. decreased its position in Laboratory Co. of America Holdings (NYSE:LH) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,806 shares of the medical research company’s stock after selling 1,042 shares during the period. Corebridge Financial Inc.’s holdings in Laboratory Co. of America were worth $4,542,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC grew 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 valued at $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after buying an additional 127 shares during the last quarter. Human Investing LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $39,000. True Wealth Design LLC increased its position in shares of Laboratory Co. of America by 3,660.0% in the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 183 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in Laboratory Co. of America during the fourth quarter worth about $44,000. 95.94% of the stock is currently owned by institutional investors.

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the transaction, the director now directly owns 13,166 shares of the company’s stock, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total transaction of $330,208.20. Following the transaction, the executive vice president now owns 2,171 shares of the company’s stock, valued at approximately $545,572.30. This represents a 37.70 % 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 valued at $3,577,572 over the last quarter. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $229.75 on Monday. The company has a 50-day simple moving average of $244.80 and a two-hundred day simple moving average of $234.69. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The stock has a market capitalization of $19.23 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

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%. Analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LH. Barclays lowered their price target 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 shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Piper Sandler boosted their price objective 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. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Laboratory Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $269.92.

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.