Allspring Global Investments Holdings LLC Buys 51,045 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Allspring Global Investments Holdings LLC increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,916,505 shares of the medical research company’s stock after buying an additional 51,045 shares during the quarter. Laboratory Co. of America accounts for about 0.7% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 17th largest holding. Allspring Global Investments Holdings LLC’s holdings in Laboratory Co. of America were worth $437,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA raised its holdings in shares of Laboratory Co. of America by 3.2% during the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after buying an additional 41 shares in the last quarter. Empowered Funds LLC grew its position in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after acquiring an additional 43 shares during the last quarter. Empirical Finance LLC raised its stake in Laboratory Co. of America by 1.7% during the third quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after acquiring an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Laboratory Co. of America by 16.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after acquiring an additional 50 shares during the last quarter. Finally, Concord Wealth Partners boosted its stake in shares of 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 valued at $38,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity

In other news, CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the transaction, the chief marketing officer now directly owns 4,318 shares of the company’s stock, valued at $1,031,613.38. This represents a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. The trade was a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,383 shares of company stock worth $4,408,373 in the last three months. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LH. Bank of America upped their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays dropped their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group lifted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.31.

Laboratory Co. of America Stock Up 0.1 %

Shares of Laboratory Co. of America stock opened at $245.23 on Wednesday. The firm has a market cap of $20.51 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.84 and a beta of 1.07. The stock’s 50-day moving average is $236.76 and its 200 day moving average is $230.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Equities research analysts anticipate that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

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.