Amy B. Summy Sells 226 Shares of Laboratory Co. of America Holdings (NYSE:LH) Stock

Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy sold 226 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the transaction, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at $1,137,817.60. This trade represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Laboratory Co. of America Trading Down 1.7 %

Shares of Laboratory Co. of America stock opened at $247.89 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The stock has a 50 day moving average price of $240.74 and a two-hundred day moving average price of $232.44. The stock has a market capitalization of $20.73 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.16%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LH. UBS Group lowered 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. Bank of America raised their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley raised their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler lifted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $265.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Graney & King LLC purchased a new position in shares of Laboratory Co. of America during the fourth quarter valued at approximately $26,000. SouthState Corp purchased a new position in shares of Laboratory Co. of America during the third quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its position in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares during the last quarter. Finally, Human Investing LLC purchased a new position in shares of Laboratory Co. of America during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.