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

AMF Tjanstepension AB cut its stake in Laboratory Co. of America Holdings (NYSE:LH) by 60.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,225 shares of the medical research company’s stock after selling 51,801 shares during the period. AMF Tjanstepension AB’s holdings in Laboratory Co. of America were worth $7,852,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital City Trust Co. FL lifted its stake in Laboratory Co. of America by 1.5% in the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock worth $3,567,000 after acquiring an additional 223 shares during the period. OneDigital Investment Advisors LLC lifted its stake in Laboratory Co. of America by 115.7% in the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock worth $1,361,000 after acquiring an additional 3,265 shares during the period. Alexander Randolph Advisory Inc. purchased a new stake in Laboratory Co. of America in the third quarter worth about $955,000. Wealthcare Advisory Partners LLC lifted its stake in Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after acquiring an additional 490 shares during the period. Finally, Mutual of America Capital Management LLC purchased a new stake in Laboratory Co. of America in the third quarter worth about $2,316,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LH shares. Jefferies Financial Group upped their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley increased their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, Bank of America increased their price target 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. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $268.38.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,500 shares of company stock worth $3,577,572. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $253.00 on Friday. The firm has a market capitalization of $21.18 billion, a P/E ratio of 28.68, a PEG ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average price of $243.68 and a 200 day moving average price of $233.72. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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%. Sell-side analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current 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 issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.14%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Laboratory Co. of America Profile

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