Skandinaviska Enskilda Banken AB publ Increases Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Skandinaviska Enskilda Banken AB publ increased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,975 shares of the medical research company’s stock after purchasing an additional 1,800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Laboratory Co. of America were worth $4,114,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital City Trust Co. FL boosted its holdings 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 valued at $3,567,000 after acquiring an additional 223 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings 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 valued at $1,361,000 after acquiring an additional 3,265 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings 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 valued at $583,000 after acquiring an additional 490 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in Laboratory Co. of America in the third quarter valued at $2,316,000. Finally, Bryn Mawr Capital Management LLC boosted its holdings in Laboratory Co. of America by 51.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock valued at $343,000 after acquiring an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the sale, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s 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 sale, the director now owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock worth $3,577,572 over the last quarter. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LH shares. Jefferies Financial Group lifted their target price 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. Bank of America lifted their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays reduced their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Morgan Stanley upped their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $268.38.

Laboratory Co. of America Trading Up 1.8 %

Shares of LH opened at $239.80 on Monday. The company has a market capitalization of $20.07 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year 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 stock has a 50-day moving average price of $244.69 and a 200 day moving average price of $234.06.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates 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%. Sell-side analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

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.