Thrivent Financial for Lutherans Has $92.41 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Thrivent Financial for Lutherans cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 46.2% in the fourth quarter, HoldingsChannel reports. The fund owned 402,958 shares of the medical research company’s stock after selling 346,310 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Laboratory Co. of America were worth $92,406,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LH. State Street Corp lifted its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after buying an additional 25,469 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after buying an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after buying an additional 167,137 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Laboratory Co. of America by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after buying an additional 51,045 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Laboratory Co. of America by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock valued at $418,042,000 after buying an additional 41,898 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Down 0.3 %

NYSE:LH opened at $239.63 on Wednesday. The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 1.71 and a beta of 1.12. 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 business’s 50-day moving average price is $244.99 and its two-hundred day moving average price is $234.21. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America lifted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group raised their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Piper Sandler raised their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. UBS Group cut their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $268.38.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the completion of the transaction, the director now directly owns 13,166 shares in the company, valued at approximately $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark S. Schroeder sold 5,339 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $249.23, for a total value of $1,330,638.97. Following the transaction, the chief operating officer now owns 4,960 shares of the company’s stock, valued at approximately $1,236,180.80. The trade was a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock valued at $3,577,572 over the last 90 days. 0.85% of the stock is owned by company insiders.

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.