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

Handelsbanken Fonder AB has reduced its investment in Laboratory Co. of America Holdings (NYSE:LH) by 25.8% during the fourth quarter, based on its latest Form 13F filing with the Securities and Exchange Commission (SEC). After selling 5,861 shares, Handelsbanken Fonder AB now holds 16,877 shares of the medical research company's stock. The value of these holdings was approximately $3,870,000 at the end of the reporting period.

Changes in Institutional Investor Stakes

Other institutional investors have also modified their positions in Laboratory Co. of America. For example, SouthState Corp entered the company's stock in the third quarter with an investment valued at $28,000. Fortitude Family Office LLC made a significant increase of 312.5% in its holdings during the fourth quarter and now owns 132 shares valued at $30,000 after acquiring an additional 100 shares. Additionally, Geneos Wealth Management Inc. raised its holdings by 309.8% during the same period, owning 168 shares valued at $39,000 after buying 127 more shares. Human Investing LLC has also purchased a new stake worth $39,000 in the company during the fourth quarter. Concord Wealth Partners increased its position by 43.3% in the third quarter, now holding 172 shares valued at $38,000 after buying 52 more shares. Overall, institutional investors and hedge funds own about 95.94% of Laboratory Co. of America's stock.

Insider Transactions

In related news, Director Kerrii B. Anderson sold 1,000 shares of the company's stock on January 7th, at an average price of $235.00, amounting to $235,000 from the sale. Following this transaction, Anderson now holds 12,722 shares valued at around $2,989,670, reflecting a 7.29% decrease in their position. The disclosure was made public through a document filed with the SEC. CEO Adam H. Schechter also sold 6,121 shares on February 11th at an average price of $244.62, totaling roughly $1,497,319.02. After this sale, the CEO owns about 86,445 shares, valued approximately at $21,146,175.90, which denotes a 6.61% decrease in his holdings. Insiders have collectively sold 19,832 shares valued at $4,788,995 in the past ninety days, with company insiders owning about 0.85% of the stock.

Stock Performance and Financials

The shares of Laboratory Co. of America opened at $249.86. The company has a market capitalization of $20.90 billion, a price-to-earnings (PE) ratio of 28.33, a price/earnings to growth (PEG) ratio of 1.71, and a beta value of 1.07. Over the past year, its stock has recorded a low of $191.97 and a high of $258.59. Its current 50-day moving average price stands at $238.93, while the two-hundred-day moving average sits at $231.82. The company showcases a current ratio of 1.44, quick ratio of 1.30, and a debt-to-equity ratio of 0.67.

Laboratory Co. of America last announced its earnings results on February 6th. The company reported an earnings per share (EPS) of $3.45 for the quarter, slightly exceeding experts' expectations of $3.40 by $0.05. The company’s return on equity is 15.29% with a net margin of 5.73%. Analysts predict that Laboratory Co. of America will report an EPS of 16.01 for the current year.

Dividend Announcement

Furthermore, the company recently declared a quarterly dividend to be paid on March 12th. Shareholders recorded on February 27th will receive a dividend of $0.72 per share. This equates to an annualized dividend of $2.88 and a yield of 1.15%. The ex-dividend date is February 27th. The dividend payout ratio for Laboratory Co. of America is set at 32.65%.

Analyst Ratings and Recommendations

About Laboratory Co. of America

Laboratory Co. of America Holdings, Inc. (commonly known as Labcorp), provides a comprehensive range of medical testing services. Founded in April 2024, its headquarters are located in Burlington, NC.

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