UMB Bank n.a. Purchases 77 Shares of Laboratory Co. of America Holdings (NYSE:LH)

UMB Bank n.a. lifted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 19.8% during the 1st quarter, HoldingsChannel reports. The firm owned 465 shares of the medical research company’s stock after acquiring an additional 77 shares during the period. UMB Bank n.a.’s holdings in Laboratory Co. of America were worth $108,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in LH. Empowered Funds LLC lifted its holdings in shares of Laboratory Co. of America by 0.5% during the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after purchasing an additional 43 shares in the last quarter. SP Asset Management LLC increased its position in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after buying an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Laboratory Co. of America by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after buying an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Laboratory Co. of America by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock worth $1,650,000 after buying an additional 46 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Laboratory Co. of America by 28.2% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company’s stock worth $53,000 after purchasing an additional 51 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Price Performance

LH opened at $261.63 on Friday. The business’s 50-day moving average is $239.71 and its two-hundred day moving average is $239.34. Laboratory Co. of America Holdings has a 1 year low of $192.38 and a 1 year high of $262.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a market capitalization of $21.90 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share 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 business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the previous year, the firm earned $3.68 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Thursday, May 29th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.10%. Laboratory Co. of America’s dividend payout ratio is currently 33.29%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays increased their target price on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Wall Street Zen lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Piper Sandler reiterated a “neutral” rating and issued a $280.00 price target (up from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Redburn Atlantic assumed coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price target for the company. Finally, Truist Financial raised their price objective on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $274.00.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $260.00, for a total value of $130,000.00. Following the completion of the transaction, the director now directly owns 12,666 shares of the company’s stock, valued at approximately $3,293,160. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Amy B. Summy sold 758 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,092 shares of company stock worth $2,971,820 over the last quarter. Insiders own 0.84% 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.