AMF Tjanstepension AB reduced its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 60.2% during the 4th quarter, according to the company in its most recent 13F 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 period. AMF Tjanstepension AB's holdings in Laboratory Co. of America were worth $7,852,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in shares of Laboratory Co. of America by 17.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,385 shares of the medical research company's stock valued at $310,000 after purchasing an additional 208 shares during the period. Van ECK Associates Corp grew its position in Laboratory Co. of America by 5.3% in the third quarter. Van ECK Associates Corp now owns 13,868 shares of the medical research company's stock valued at $3,050,000 after acquiring an additional 694 shares during the period. Principal Financial Group Inc. raised its stake in Laboratory Co. of America by 2.8% during the third quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company's stock worth $21,587,000 after acquiring an additional 2,595 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Laboratory Co. of America during the third quarter valued at $66,000. Finally, Leavell Investment Management Inc. boosted its stake in shares of Laboratory Co. of America by 2.4% in the 3rd quarter. Leavell Investment Management Inc. now owns 5,908 shares of the medical research company's stock valued at $1,320,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 95.94% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on LH shares. Jefferies Financial Group lifted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, February 6th. 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. UBS Group dropped their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Morgan Stanley boosted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, Bank of America raised their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Laboratory Co. of America has a consensus rating of "Moderate Buy" and a consensus price target of $268.38.
View Our Latest Stock Report on LH
Laboratory Co. of America Trading Down 1.1 %
Shares of Laboratory Co. of America stock traded down $2.56 during trading on Wednesday, reaching $236.69. 985,864 shares of the company were exchanged, compared to its average volume of 630,943. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The business has a 50-day moving average price of $244.18 and a 200-day moving average price of $233.91. 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 firm has a market capitalization of $19.81 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 1.71 and a beta of 1.12.
Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts' consensus estimates 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 anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.
Laboratory Co. of America Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America's dividend payout ratio (DPR) is 32.65%.
Insider Activity at Laboratory Co. of America
In other news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the completion of the sale, the director now owns 13,166 shares of the company's stock, valued at $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,500 shares of company stock worth $3,577,572 in the last quarter. Corporate insiders own 0.85% of the company's stock.
About Laboratory Co. of America
(
Free Report)
Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.
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