BI Asset Management Fondsmaeglerselskab A S Decreases Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

BI Asset Management Fondsmaeglerselskab A S lowered its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 52.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,948 shares of the medical research company's stock after selling 2,160 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Laboratory Co. of America were worth $447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Graney & King LLC bought a new position in Laboratory Co. of America in the 4th quarter worth about $26,000. Fortitude Family Office LLC grew its holdings in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after acquiring an additional 127 shares in the last quarter. Human Investing LLC bought a new stake in shares of Laboratory Co. of America during the fourth quarter valued at approximately $39,000. Finally, Heck Capital Advisors LLC bought a new position in Laboratory Co. of America in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analyst Ratings Changes

LH has been the subject of several recent analyst reports. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. UBS Group dropped their price target on shares of 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. Piper Sandler boosted their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 10th. StockNews.com cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Finally, Barclays decreased their target price on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $268.77.

Laboratory Co. of America Stock Performance

Shares of NYSE LH traded up $2.14 during trading on Monday, hitting $230.45. The company had a trading volume of 983,764 shares, compared to its average volume of 633,708. 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 debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a market capitalization of $19.28 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The stock has a 50 day simple moving average of $235.30 and a 200 day simple moving average of $235.28.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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%. As a group, analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.25%. Laboratory Co. of America's dividend payout ratio is presently 32.65%.

Insider Activity

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the transaction, the chief marketing officer now owns 4,544 shares of the company's stock, valued at $1,137,817.60. This represents a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at $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 14,258 shares of company stock worth $3,518,177 over the last ninety days. Corporate insiders own 0.84% of the company's stock.

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.