Swedbank AB Sells 1,075 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Swedbank AB lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,809 shares of the medical research company’s stock after selling 1,075 shares during the period. Swedbank AB’s holdings in Laboratory Co. of America were worth $12,798,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SouthState Corp bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Fortitude Family Office LLC grew its stake in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Riverview Trust Co increased its stake in shares of Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after acquiring an additional 107 shares in the last quarter. Finally, Concord Wealth Partners boosted its position in shares of Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $249.39 on Friday. The company has a 50-day moving average price of $235.82 and a 200 day moving average price of $228.25. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market cap of $20.86 billion, a P/E ratio of 48.24, a PEG ratio of 1.83 and a beta of 1.06.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Analyst Ratings Changes

A number of research firms have recently commented on LH. Jefferies Financial Group reiterated a “buy” rating and set a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays raised their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler upped their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.77.

Insider Activity

In other news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the transaction, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock valued at $5,915,209 in the last quarter. Insiders own 0.85% 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.