Czech National Bank Increases Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Czech National Bank raised its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 5.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 19,155 shares of the medical research company's stock after acquiring an additional 1,020 shares during the period. Czech National Bank's holdings in Laboratory Co. of America were worth $4,458,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of LH. Norges Bank acquired a new position in Laboratory Co. of America during the fourth quarter worth $239,811,000. Select Equity Group L.P. increased its position in shares of Laboratory Co. of America by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock worth $365,985,000 after acquiring an additional 959,981 shares in the last quarter. Amundi raised its holdings in shares of Laboratory Co. of America by 344.9% in the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company's stock worth $263,161,000 after acquiring an additional 870,903 shares during the last quarter. GAMMA Investing LLC lifted its position in Laboratory Co. of America by 37,334.2% in the 1st quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock valued at $188,450,000 after acquiring an additional 807,539 shares in the last quarter. Finally, Madison Investment Advisors LLC acquired a new position in Laboratory Co. of America during the 4th quarter valued at about $123,415,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LH has been the topic of a number of recent research reports. Piper Sandler restated a "neutral" rating and issued a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Barclays upped their price target on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Wall Street Zen downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Robert W. Baird upped their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their price target for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $272.92.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,105 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $248.73, for a total value of $1,518,496.65. Following the sale, the chief executive officer now directly owns 98,962 shares of the company's stock, valued at $24,614,818.26. This trade represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the transaction, the executive vice president now owns 5,302 shares in the company, valued at $1,228,314.34. This trade represents a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,592 shares of company stock valued at $2,841,820. Company insiders own 0.84% of the company's stock.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH traded up $1.77 during mid-day trading on Friday, reaching $253.92. The company had a trading volume of 442,869 shares, compared to its average volume of 637,325. Laboratory Co. of America Holdings has a one year low of $192.38 and a one year high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The company's 50-day moving average price is $237.30 and its 200-day moving average price is $238.81. The firm has a market cap of $21.25 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.11. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The firm had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.41 billion. During the same quarter in the prior year, the firm earned $3.68 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 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, June 11th. Investors of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.13%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 33.29%.

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.