Czech National Bank Acquires 1,031 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Czech National Bank boosted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 18,135 shares of the medical research company’s stock after purchasing an additional 1,031 shares during the period. Czech National Bank’s holdings in Laboratory Co. of America were worth $4,159,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SouthState Corp purchased a new position in Laboratory Co. of America during the third quarter valued at approximately $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America during the third quarter valued at approximately $29,000. Fortitude Family Office LLC grew its stake in Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Riverview Trust Co grew its stake in Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 107 shares in the last quarter. Finally, Concord Wealth Partners grew its stake in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 1.2 %

Shares of LH opened at $237.20 on Thursday. The firm has a 50 day moving average price of $234.84 and a 200-day moving average price of $225.18. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. 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 market cap of $19.84 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 1.91 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last posted its quarterly 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 analyst estimates of $3.26 billion. During the same period in the prior year, the business posted $3.38 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares in the company, valued at approximately $3,156,060. This represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,572 shares of company stock worth $6,145,209 in the last three months. 0.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on LH. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays boosted their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Morgan Stanley boosted their price target 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. Four 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 stock. Based on data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $260.54.

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.