Laboratory Co. of America Holdings (NYSE:LH) EVP Sells $175,605.86 in Stock

Laboratory Co. of America Holdings (NYSE:LH) EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the transaction, the executive vice president now directly owns 5,302 shares in the company, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Laboratory Co. of America Stock Down 0.1 %

Shares of NYSE LH traded down $0.31 during mid-day trading on Monday, hitting $229.71. The company had a trading volume of 276,764 shares, compared to its average volume of 619,544. 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 company has a market capitalization of $19.23 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The business’s 50-day simple moving average is $244.80 and its 200 day simple moving average is $234.69. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its earnings results 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%. On average, analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LH shares. Jefferies Financial Group raised their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Bank of America lifted their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.92.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LH. Graney & King LLC acquired a new position in Laboratory Co. of America during the 4th quarter valued at about $26,000. Fortitude Family Office LLC lifted its position in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares during the period. Human Investing LLC bought a new stake in Laboratory Co. of America during the fourth quarter valued at about $39,000. Finally, True Wealth Design LLC boosted its stake in Laboratory Co. of America by 3,660.0% during the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 95.94% 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.