Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lifted its position in Laboratory Co. of America Holdings (NYSE:LH) by 96.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,070 shares of the medical research company’s stock after purchasing an additional 10,834 shares during the period. Tocqueville Asset Management L.P.’s holdings in Laboratory Co. of America were worth $5,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in LH. Private Trust Co. NA grew its holdings in Laboratory Co. of America by 3.2% in the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after purchasing an additional 41 shares during the period. Empowered Funds LLC grew its stake in Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after acquiring an additional 43 shares during the period. SP Asset Management LLC increased its holdings in Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after acquiring an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after acquiring an additional 45 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock valued at $1,650,000 after purchasing an additional 46 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Down 0.3 %

LH stock opened at $239.63 on Wednesday. The firm has a market cap of $20.06 billion, a PE ratio of 27.17, a PEG ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year 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. The firm’s 50 day moving average price is $244.99 and its 200-day moving average price is $234.21.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate 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%. On average, equities research analysts anticipate 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. Shareholders of record on Thursday, February 27th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank of America upped their price target 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. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. 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 note on Friday, February 7th. Jefferies Financial Group raised their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Three investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $268.38.

Insider Activity

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the transaction, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark S. Schroeder sold 5,339 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the sale, the chief operating officer now owns 4,960 shares in the company, valued at $1,236,180.80. This trade represents a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have 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 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.