Handelsbanken Fonder AB Reduces Stake in Laboratory Co. of America Holdings

Handelsbanken Fonder AB has decreased its investment in Laboratory Co. of America Holdings (NYSE:LH) by 25.8% during the fourth quarter, as reported in its latest Form 13F filing with the Securities and Exchange Commission (SEC). After selling 5,861 shares during the quarter, the institutional investor now holds 16,877 shares in the medical research firm, which are valued at approximately $3.87 million.

Investor Activities

Other significant investors have also adjusted their holdings in Laboratory Co. of America. SouthState Corp made a new investment in the company in the third quarter, acquiring shares valued at $28,000. Meanwhile, Fortitude Family Office LLC increased its stake by an impressive 312.5% in the fourth quarter, now owning 132 shares worth about $30,000 after buying an additional 100 shares.

Additionally, Geneos Wealth Management Inc. raised its investment in Laboratory Co. of America by 309.8% during the same period, bringing their total to 168 shares worth $39,000. Human Investing LLC also acquired shares worth $39,000 in the fourth quarter. Furthermore, Concord Wealth Partners enhanced their stake by 43.3% in the third quarter, now owning 172 shares valued at around $38,000. Collectively, institutional investors and hedge funds hold approximately 95.94% of the company’s stock.

Insider Transactions

In other developments, Director Kerrii B. Anderson sold 1,000 shares of the company on January 7th for an average price of $235.00, totaling $235,000. Following this transaction, Anderson holds 12,722 shares valued at nearly $2.99 million, reflecting a 7.29% decrease in their position. This sale was reported to the SEC.

CEO Adam H. Schechter also sold shares, offloading 6,121 shares at an average price of $244.62 for a total of approximately $1.5 million. After this sale, Schechter’s direct ownership stands at 86,445 shares, valued at around $21.15 million, marking a 6.61% decline in their stake. Over the past ninety days, insiders have sold a total of 19,832 shares valued at roughly $4.79 million, and insiders hold about 0.85% of the stock.

Market Performance

As of Monday, shares of Laboratory Co. of America (LH) opened at $249.86. The company boasts a market capitalization of $20.90 billion, with a PE ratio of 28.33 and a PEG ratio of 1.71, alongside a beta value of 1.07. The stock has fluctuated between a yearly low of $191.97 and a high of $258.59. Its 50-day moving average price is $238.93, while the 200-day moving average stands at $231.82. The company maintains a current ratio of 1.44, a quick ratio of 1.30, and a debt-to-equity ratio of 0.67.

Financial Announcements

Laboratory Co. of America most recently reported earnings on February 6th, posting an EPS of $3.45, surpassing the consensus estimate of $3.40 by $0.05. The company achieved a return on equity of 15.29% and a net margin of 5.73%. Analysts predict that Laboratory Co. of America Holdings will report an EPS of 16.01 for the current year.

Dividend Declaration

The firm declared a quarterly dividend to be paid on March 12th. Shareholders on record by February 27th will receive a dividend of $0.72, equating to an annualized dividend of $2.88 and a yield of 1.15%. The ex-dividend date is also set for February 27th. The company's dividend payout ratio stands at 32.65%.

Analyst Ratings

Various brokerages have provided their assessments of Laboratory Co. of America. Barclays has lowered their target price from $271 to $260 with an 'equal weight' rating. Conversely, Morgan Stanley increased their target price from $260 to $270, indicating an 'overweight' rating. Hsbc Global Res upgraded their rating from 'hold' to 'strong-buy', and Jefferies Financial Group raised their target from $275 to $290 with a 'buy' rating. UBS Group reduced their price target from $293 to $286, while maintaining a 'buy' rating. Overall, analysts have issued three hold ratings, thirteen buy ratings, and one strong buy rating for the stock, with an average rating classified as 'Moderate Buy' and a target price estimate of $265.31.

Company Overview

What Is Laboratory Co. of America?

Laboratory Co. of America Holdings, also known as Labcorp, is a leader in providing medical testing services. Founded on April 16, 2024, the company is headquartered in Burlington, North Carolina.

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