MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Boosts Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,730 shares of the medical research company’s stock after acquiring an additional 1,890 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Laboratory Co. of America were worth $1,540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its holdings in shares of Laboratory Co. of America by 115.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after purchasing an additional 3,265 shares during the last quarter. Alexander Randolph Advisory Inc. purchased a new stake in Laboratory Co. of America in the third quarter valued at about $955,000. Mutual of America Capital Management LLC acquired a new stake in Laboratory Co. of America in the third quarter worth about $2,316,000. Wealthcare Advisory Partners LLC increased its holdings in shares of Laboratory Co. of America by 23.9% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock valued at $583,000 after acquiring an additional 490 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Laboratory Co. of America by 11.8% in the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock valued at $138,718,000 after purchasing an additional 65,356 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LH has been the topic of several research analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $275.00 target price (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Morgan Stanley upped their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Robert W. Baird increased their price objective 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, HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $260.54.

Laboratory Co. of America Stock Up 0.9 %

Laboratory Co. of America stock opened at $244.63 on Friday. The firm has a market capitalization of $20.46 billion, a P/E ratio of 47.32, a P/E/G ratio of 1.81 and a beta of 1.06. The stock’s fifty day simple moving average is $234.62 and its 200-day simple moving average is $226.55. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business posted $3.38 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current fiscal 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 paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.18%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Amy B. Summy sold 3,672 shares of Laboratory Co. of America stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the sale, the chief marketing officer now directly owns 4,318 shares of the company’s stock, valued at $1,031,613.38. This trade represents a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock worth $5,915,209 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

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.