Mufg Securities Americas Inc. Invests $283,000 in Laboratory Co. of America Holdings (NYSE:LH)

Mufg Securities Americas Inc. purchased a new position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,235 shares of the medical research company's stock, valued at approximately $283,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Graney & King LLC purchased a new position in shares of Laboratory Co. of America in the 4th quarter worth about $26,000. Geneos Wealth Management Inc. grew its stake in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC bought a new position in shares of Laboratory Co. of America during the 4th quarter valued at approximately $39,000. Heck Capital Advisors LLC purchased a new position in Laboratory Co. of America in the 4th quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. purchased a new position in Laboratory Co. of America in the 4th quarter worth approximately $52,000. Institutional investors own 95.94% of the company's stock.

Wall Street Analyst Weigh In

LH has been the topic of several recent research reports. Barclays increased their price target on Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Piper Sandler reissued a "neutral" rating and set a $280.00 price target (up from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Robert W. Baird increased their price target on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Truist Financial increased their target price on Laboratory Co. of America from $274.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, StockNews.com lowered Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America currently has a consensus rating of "Moderate Buy" and a consensus price target of $270.62.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the transaction, the chief marketing officer now directly owns 4,544 shares in the company, valued at $1,137,817.60. This represents a 4.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,105 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the completion of the transaction, the chief executive officer now directly owns 98,962 shares of the company's stock, valued at $24,614,818.26. The trade was a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,971 shares of company stock valued at $4,193,073. Company insiders own 0.84% of the company's stock.

Laboratory Co. of America Stock Up 0.4%

Shares of NYSE LH traded up $0.93 during mid-day trading on Tuesday, reaching $250.73. 604,154 shares of the company's stock were exchanged, compared to its average volume of 642,453. The firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 1.71 and a beta of 0.82. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The business has a fifty day simple moving average of $233.83 and a 200 day simple moving average of $237.86. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping 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 company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. During the same quarter in the previous year, the firm earned $3.68 EPS. Laboratory Co. of America's revenue was up 5.3% on a year-over-year basis. As a group, equities analysts expect 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 will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 33.29%.

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.