Fifth Third Bancorp Raises Position in Laboratory Co. of America Holdings (NYSE:LH)

Fifth Third Bancorp increased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 0.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,715 shares of the medical research company’s stock after buying an additional 67 shares during the period. Fifth Third Bancorp’s holdings in Laboratory Co. of America were worth $6,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Empowered Funds LLC raised its position in shares of 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 worth $1,840,000 after buying an additional 43 shares in the last quarter. SP Asset Management LLC raised its position in shares of 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. Wedmont Private Capital raised its position in shares of Laboratory Co. of America by 5.0% in the first quarter. Wedmont Private Capital now owns 920 shares of the medical research company’s stock worth $204,000 after buying an additional 44 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of 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. Finally, Oregon Public Employees Retirement Fund raised its position in shares of 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. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 0.3%

LH opened at $260.84 on Friday. The company has a market cap of $21.83 billion, a P/E ratio of 29.57, a P/E/G ratio of 1.71 and a beta of 0.81. The business’s 50-day moving average price is $240.58 and its 200-day moving average price is $239.50. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 12 month low of $195.21 and a 12 month high of $263.60.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the previous year, the business earned $3.68 EPS. Laboratory Co. of America’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Thursday, May 29th were issued a dividend of $0.72 per share. 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 presently 33.29%.

Analysts Set New Price Targets

LH has been the topic of a number of research reports. Truist Financial raised their price target on Laboratory Co. of America from $274.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Redburn Atlantic initiated coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price target on the stock. Robert W. Baird raised their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Morgan Stanley raised their price target on Laboratory Co. of America from $270.00 to $283.00 and gave the company an “overweight” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Laboratory Co. of America currently has an average 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 Laboratory Co. of America stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $260.00, for a total transaction of $130,000.00. Following the sale, 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 position. The transaction 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 Laboratory Co. of America stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares in the company, 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 in the last 90 days. Company insiders own 0.84% of the company’s stock.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.