AMF Tjanstepension AB Sells 51,801 Shares of Laboratory Co. of America Holdings (NYSE:LH)

AMF Tjanstepension AB reduced its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 60.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,225 shares of the medical research company’s stock after selling 51,801 shares during the quarter. AMF Tjanstepension AB’s holdings in Laboratory Co. of America were worth $7,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SouthState Corp bought a new stake in shares of Laboratory Co. of America in the third quarter worth approximately $28,000. Fortitude Family Office LLC grew its stake in shares of 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 acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC bought a new stake in shares of Laboratory Co. of America in the fourth quarter worth approximately $39,000. Finally, Kennebec Savings Bank bought a new stake in shares of Laboratory Co. of America in the third quarter worth approximately $42,000. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Price Performance

LH stock opened at $253.00 on Friday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The company’s fifty day moving average price is $243.68 and its 200-day moving average price is $233.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company has a market capitalization of $21.18 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12.

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 for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. On average, equities analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LH shares. Piper Sandler lifted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. UBS Group cut their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Bank of America boosted their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group boosted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $268.38.

Insider Buying and Selling

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the transaction, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. The trade was a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,500 shares of company stock worth $3,577,572. 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.