MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owns $937,000 in Laboratory Co. of America Holdings (NYSE:LH)

VaselineSeptember 2, 2024

0 5 minutes read

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 70.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,603 shares of the medical research company’s stock after selling 11,103 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH holdings in Laboratory Co. of America were worth $937,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Laboratory Co. of America by 58.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after purchasing an additional 597,571 shares during the period. Bank of New York Mellon Corp grew its stake in Laboratory Co. of America by 135.0% in the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after purchasing an additional 924,881 shares during the period. Norges Bank bought a new stake in Laboratory Co shares. of America during the fourth quarter, valued at approximately $291,045,000. Northern Trust Corp grew its position in shares of Laboratory Co. of America by 3.0% during the 4th quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock worth $264,396,000 after purchasing an additional 33,493 shares during the period. Finally, Veritas Investment Partners UK Ltd. increased its stake in Laboratory Co shares. of America by 32.5% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock valued at $259,133,000 after acquiring an additional 279,628 shares in the last quarter. 95.94% of shares are owned by institutional investors and hedge funds.

Laboratory Co. stocks. of America rose 0.1%

LH opened at $229.89 on Monday. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $238.46. The firm has a market cap of $19.30 billion, a P/E ratio of 46.26, a PEG ratio of 1.77 and a beta of 1.05. The company’s 50-day moving average is $216.51, and its 200-day moving average is $210.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88, and a quick ratio of 0.77.

Want more great investment ideas?

Laboratory Co. of America (NYSE:LH – Get Free Report ) last posted its earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.78 by $0.16. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. In the same quarter last year, the firm earned $3.42 EPS. Research analysts expect Laboratory Co. of America Holdings to post 14.67 earnings per share for the current fiscal year.

Laboratory Co. of America announces dividends

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be issued a $0.72 dividend. This represents a dividend of $2.88 on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 29. Laboratory Co’s dividend payout ratio (DPR). of America is currently 57.95%.

Analysts on Wall Street are forecasting an increase

Several research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. UBS Group raised their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Evercore ISI boosted their price target on Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Truist Financial boosted their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average target price of $247.42.

Get our latest analysis on LH

Inside activity at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the transaction, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the sale, the chief financial officer now owns 31,289 shares in the company, valued at $7,008,423.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,679 shares of company stock worth $6,716,306. 0.85% of shares are owned by company insiders.

Laboratory Co. of America Profile

(Free report)

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help physicians, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).