Laboratory Co. of America Holdings (NYSE:LH) Holdings Decreased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 52.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 hedge funds and other institutional investors also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Laboratory Co. of America by 11.8% in the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock valued at $138,718,000 after buying an additional 65,356 shares during the period. Virtu Financial LLC bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at about $604,000. Te Ahumairangi Investment Management Ltd grew its stake in shares of Laboratory Co. of America by 9.0% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 25,597 shares of the medical research company’s stock worth $5,688,000 after purchasing an additional 2,124 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $5,955,000. Finally, Wilmington Savings Fund Society FSB lifted its stake in Laboratory Co. of America by 34.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 25,847 shares of the medical research company’s stock valued at $5,776,000 after purchasing an additional 6,651 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the transaction, the director now owns 13,166 shares of the company’s stock, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at approximately $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 have sold a total of 14,258 shares of company stock worth $3,518,177 over the last three months. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LH shares. Jefferies Financial Group upped their price target 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. UBS Group reduced their target price 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. Redburn Atlantic initiated coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price target on the stock. Barclays reduced their price objective 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. Finally, Truist Financial dropped their target price on shares of Laboratory Co. of America from $285.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.77.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $228.54 on Friday. The firm has a market cap of $19.12 billion, a P/E ratio of 25.91, a PEG ratio of 1.71 and a beta of 0.99. The stock’s 50-day moving average is $235.65 and its two-hundred day moving average is $234.90. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) 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%. Analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.26%. Laboratory Co. of America’s payout ratio is 32.65%.

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.