Massachusetts Financial Services Co. MA grew its position in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 485,427 shares of the medical research company’s stock after buying an additional 590 shares during the period. Massachusetts Financial Services Co. MA owned 0.57% of Laboratory Co. of America worth $97,595,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Laboratory Co. of America by 6.2% during the 2nd quarter. BlackRock Inc. now owns 12,703,935 shares of the medical research company’s stock worth $3,065,841,000 after purchasing an additional 743,824 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Laboratory Co. of America by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,859,128 shares of the medical research company’s stock valued at $2,863,118,000 after acquiring an additional 106,063 shares during the period. Geode Capital Management LLC grew its stake in Laboratory Co. of America by 1.8% during the second quarter. Geode Capital Management LLC now owns 1,876,144 shares of the medical research company’s stock valued at $451,580,000 after acquiring an additional 33,093 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Laboratory Co. of America by 532.2% during the 4th quarter. Lazard Asset Management LLC now owns 1,530,675 shares of the medical research company’s stock worth $360,441,000 after acquiring an additional 1,288,574 shares during the period. Finally, Morgan Stanley lifted its stake in Laboratory Co. of America by 19.8% in the 4th quarter. Morgan Stanley now owns 1,317,815 shares of the medical research company’s stock worth $310,319,000 after purchasing an additional 218,161 shares in the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
Insider Buying and Selling at Laboratory Co. of America
In related news, CAO Peter J. Wilkinson sold 1,384 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $210.71, for a total transaction of $291,622.64. Following the completion of the sale, the chief accounting officer now directly owns 2,087 shares in the company, valued at approximately $439,751.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.65% of the company’s stock.
Laboratory Co. of America Price Performance
Laboratory Co. of America Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Monday, February 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.29%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 38.50%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on LH. TheStreet raised shares of Laboratory Co. of America from a “c+” rating to a “b-” rating in a report on Thursday, January 18th. Barclays assumed coverage on Laboratory Co. of America in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Laboratory Co. of America from $259.00 to $261.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. Finally, Mizuho cut their price objective on Laboratory Co. of America from $257.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $242.00.
Laboratory Co. of America Company Profile
Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics and Labcorp Drug Development.
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