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

Skandinaviska Enskilda Banken AB publ grew its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 11.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,975 shares of the medical research company’s stock after acquiring an additional 1,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Laboratory Co. of America were worth $4,114,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital City Trust Co. FL grew its stake in Laboratory Co. of America by 1.5% during the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock worth $3,567,000 after buying an additional 223 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Laboratory Co. of America by 115.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock worth $1,361,000 after buying an additional 3,265 shares during the last quarter. Wealthcare Advisory Partners LLC grew its stake in Laboratory Co. of America by 23.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after buying an additional 490 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Laboratory Co. of America during the 3rd quarter worth approximately $2,316,000. Finally, Bryn Mawr Capital Management LLC lifted its position in Laboratory Co. of America by 51.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock worth $343,000 after acquiring an additional 506 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on LH shares. Barclays decreased their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Jefferies Financial Group increased their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. UBS Group decreased their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $268.38.

Laboratory Co. of America Stock Performance

NYSE LH opened at $239.80 on Monday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a market capitalization of $20.07 billion, a P/E ratio of 27.19, a PEG ratio of 1.71 and a beta of 1.12. The business has a 50 day moving average price of $244.69 and a 200 day moving average price of $234.06. 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 released its quarterly earnings data 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 return on equity of 15.29% and a net margin of 5.73%. Sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the transaction, the executive vice president now owns 2,171 shares of the company’s stock, valued at approximately $545,572.30. This trade represents a 37.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,500 shares of company stock valued at $3,577,572 in the last ninety days. Corporate insiders own 0.85% 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.