Truist Financial Corp Purchases 84 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Truist Financial Corp boosted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,991 shares of the medical research company’s stock after buying an additional 84 shares during the period. Truist Financial Corp’s holdings in Laboratory Co. of America were worth $5,502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LH. AMF Tjanstepension AB boosted its stake in Laboratory Co. of America by 37.0% during the third quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock valued at $19,232,000 after buying an additional 23,221 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at approximately $241,000. Private Advisor Group LLC lifted its stake in shares of Laboratory Co. of America by 55.2% in the 3rd quarter. Private Advisor Group LLC now owns 8,410 shares of the medical research company’s stock valued at $1,879,000 after purchasing an additional 2,990 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Laboratory Co. of America by 59,626.5% in the 3rd quarter. International Assets Investment Management LLC now owns 67,491 shares of the medical research company’s stock valued at $15,083,000 after purchasing an additional 67,378 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at approximately $854,000. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Trading Up 0.3 %

LH opened at $249.86 on Friday. The stock’s fifty day moving average is $238.93 and its two-hundred day moving average is $231.69. The company has a market capitalization of $20.90 billion, a P/E ratio of 28.33, a PEG ratio of 1.71 and a beta of 1.07. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. 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 1.15%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Wall Street Analysts Forecast Growth

LH has been the subject of several analyst reports. 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. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, UBS Group reduced their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Insider Activity

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight Gary Gilliland sold 1,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $241.00, for a total value of $241,000.00. Following the completion of the sale, the director now directly owns 7,712 shares of the company’s stock, valued at $1,858,592. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,832 shares of company stock worth $4,788,995. 0.85% of the stock is currently owned by company insiders.

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.