Mn Services Vermogensbeheer B.V. Sells 2,400 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mn Services Vermogensbeheer B.V. cut its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,898 shares of the medical research company's stock after selling 2,400 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Laboratory Co. of America were worth $7,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Graney & King LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter worth about $26,000. Human Investing LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter worth about $39,000. Heck Capital Advisors LLC acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $44,000. SBI Securities Co. Ltd. acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $52,000. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Laboratory Co. of America by 28.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company's stock worth $53,000 after buying an additional 51 shares during the period. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Up 1.1%

Laboratory Co. of America stock opened at $263.95 on Tuesday. The stock has a market capitalization of $22.09 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 1.71 and a beta of 0.81. Laboratory Co. of America Holdings has a twelve month low of $198.07 and a twelve month high of $264.03. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $241.51 and a 200-day moving average of $239.62.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.68 earnings per share. On average, 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 business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.09%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 33.29%.

Insider Transactions at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 500 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $260.00, for a total value of $130,000.00. Following the sale, the director now owns 12,666 shares of the company's stock, valued at $3,293,160. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the completion of the sale, the executive vice president now directly owns 30,067 shares in the company, valued at approximately $7,426,549. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,092 shares of company stock valued at $2,971,820 over the last 90 days. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on LH. Morgan Stanley lifted their price target on shares of Laboratory Co. of America from $270.00 to $283.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Wall Street Zen cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Piper Sandler reiterated a "neutral" rating and set a $280.00 price target (up previously from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Robert W. Baird boosted their price objective on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Four equities research 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 MarketBeat, Laboratory Co. of America has a consensus rating of "Moderate Buy" and a consensus target price of $274.00.

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.

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