Handelsbanken Fonder AB Has $4.43 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Handelsbanken Fonder AB raised its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 12.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 19,022 shares of the medical research company's stock after purchasing an additional 2,145 shares during the period. Handelsbanken Fonder AB's holdings in Laboratory Co. of America were worth $4,427,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $239,811,000. Select Equity Group L.P. boosted its stake in shares of Laboratory Co. of America by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after acquiring an additional 959,981 shares during the last quarter. Amundi boosted its stake in shares of Laboratory Co. of America by 344.9% during the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company's stock valued at $263,161,000 after acquiring an additional 870,903 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Laboratory Co. of America by 37,334.2% during the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock valued at $188,450,000 after acquiring an additional 807,539 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $123,415,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LH shares. Robert W. Baird increased their target price on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Truist Financial increased their target price on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Redburn Atlantic started coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 target price on the stock. Barclays increased their target price on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $274.00.

Insider Buying and Selling at Laboratory Co. of America

In related news, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total transaction of $200,833.54. Following the completion of the sale, the chief accounting officer now owns 2,054 shares of the company's stock, valued at approximately $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares of the company's stock, valued at approximately $1,228,314.34. The trade was a 12.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,092 shares of company stock valued at $2,971,820 in the last quarter. Corporate insiders own 0.84% of the company's stock.

Laboratory Co. of America Stock Performance

Shares of LH traded up $2.83 during mid-day trading on Monday, hitting $263.95. The stock had a trading volume of 652,879 shares, compared to its average volume of 637,136. The company has a market cap of $22.09 billion, a PE ratio of 29.93, a PEG ratio of 1.71 and a beta of 0.81. The company's fifty day simple moving average is $240.58 and its two-hundred day simple moving average is $239.46. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a fifty-two week low of $198.07 and a fifty-two week high of $264.02.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The business's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $3.68 EPS. On average, equities analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.09%. Laboratory Co. of America's payout ratio is currently 33.29%.

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.