Handelsbanken Fonder AB Has $3.87 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Handelsbanken Fonder AB lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 25.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,877 shares of the medical research company’s stock after selling 5,861 shares during the quarter. Handelsbanken Fonder AB’s holdings in Laboratory Co. of America were worth $3,870,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SouthState Corp acquired a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at $28,000. Fortitude Family Office LLC boosted its holdings in shares of Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the 4th quarter valued at $39,000. Finally, Concord Wealth Partners boosted its holdings 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 valued at $38,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,832 shares of company stock valued at $4,788,995 in the last ninety days. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Stock Up 0.3 %

Shares of LH opened at $249.86 on Monday. The company has a market capitalization of $20.90 billion, a PE ratio of 28.33, a PEG ratio of 1.71 and a beta of 1.07. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The stock’s 50-day moving average price is $238.93 and its two-hundred day moving average price is $231.82. 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 (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping the consensus estimate 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%. On average, analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is 32.65%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LH. Barclays reduced their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Morgan Stanley raised their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, UBS Group cut their price objective 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 equities research analysts have rated the stock with a hold rating, thirteen have given 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 an average target price of $265.31.

Laboratory Co. of America Company Profile

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