E. Ohman J or Asset Management AB Has $856,000 Stake in Laboratory Co. of America Holdings (NYSE:LH)

E. Ohman J or Asset Management AB reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 16.4% during the 1st quarter, HoldingsChannel reports. The firm owned 3,680 shares of the medical research company’s stock after selling 720 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Laboratory Co. of America were worth $856,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC raised its stake in Laboratory Co. of America by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company’s stock valued at $458,334,000 after purchasing an additional 39,255 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after purchasing an additional 167,137 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Laboratory Co. of America by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after purchasing an additional 51,045 shares during the period. Bank of New York Mellon Corp raised its position in shares of Laboratory Co. of America by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock valued at $418,042,000 after buying an additional 41,898 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Laboratory Co. of America by 2.2% in the fourth quarter. FMR LLC now owns 1,620,826 shares of the medical research company’s stock valued at $371,688,000 after buying an additional 34,429 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $253.92 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The business’s fifty day moving average price is $237.30 and its two-hundred day moving average price is $238.82. Laboratory Co. of America Holdings has a fifty-two week low of $192.38 and a fifty-two week high of $258.59. The stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.11. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the prior year, the firm earned $3.68 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.13%. Laboratory Co. of America’s payout ratio is 33.29%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Barclays raised their price objective 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. Robert W. Baird boosted their price objective on Laboratory Co. of America from $253.00 to $267.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Truist Financial raised 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. Finally, Redburn Atlantic began coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price target on the stock. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $272.92.

Insider Activity

In related news, CEO Adam H. Schechter sold 6,105 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the transaction, the chief executive officer now owns 98,962 shares in the company, valued at $24,614,818.26. This represents a 5.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Peter J. Wilkinson sold 829 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were 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 $497,602.04. The trade was a 28.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,592 shares of company stock worth $2,841,820. Insiders own 0.84% of the company’s stock.

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.