Pictet Asset Management Holding SA Has $11.22 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Pictet Asset Management Holding SA raised its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,942 shares of the medical research company’s stock after buying an additional 4,988 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Laboratory Co. of America worth $11,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Public Sector Pension Investment Board lifted its stake in Laboratory Co. of America by 9.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,572 shares of the medical research company’s stock valued at $798,000 after acquiring an additional 300 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Laboratory Co. of America in the third quarter valued at about $447,000. Paloma Partners Management Co bought a new position in shares of Laboratory Co. of America during the third quarter valued at about $334,000. Centiva Capital LP purchased a new position in Laboratory Co. of America during the third quarter worth about $1,466,000. Finally, Hilltop Holdings Inc. increased its stake in Laboratory Co. of America by 46.5% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,453 shares of the medical research company’s stock valued at $325,000 after buying an additional 461 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares in the company, valued at $1,228,314.34. This represents a 12.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the sale, the executive vice president now owns 2,171 shares of the company’s stock, valued at approximately $545,572.30. This trade represents a 37.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,258 shares of company stock valued at $3,753,177. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 1.8 %

NYSE:LH opened at $236.74 on Thursday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The stock’s fifty day moving average price is $244.33 and its two-hundred day moving average price is $234.88. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The company has a market cap of $19.82 billion, a P/E ratio of 26.84, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. As a group, analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.22%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LH. Jefferies Financial Group upped their target price 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. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Bank of America lifted 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. Barclays reduced their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Finally, Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $270.38.

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.