Laboratory Co. of America Holdings (NYSE:LH) EVP Glenn A. Eisenberg Sells 11,711 Shares

Laboratory Co. of America Holdings (NYSE:LH) EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Laboratory Co. of America Stock Down 1.3 %

LH opened at $237.35 on Thursday. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The company has a market capitalization of $19.85 billion, a P/E ratio of 45.91, a P/E/G ratio of 1.98 and a beta of 1.05. The stock has a fifty day moving average of $228.79 and a 200-day moving average of $218.78.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm earned $3.38 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is currently 55.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LH. Industrial Alliance Investment Management Inc. bought a new position in Laboratory Co. of America in the second quarter valued at about $27,000. SouthState Corp bought a new position in Laboratory Co. of America in the third quarter valued at about $28,000. Horizon Bancorp Inc. IN bought a new position in Laboratory Co. of America in the third quarter valued at about $29,000. Innealta Capital LLC bought a new position in Laboratory Co. of America in the second quarter valued at about $32,000. Finally, Family Firm Inc. bought a new position in Laboratory Co. of America in the second quarter valued at about $37,000. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LH shares. Robert W. Baird increased their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Piper Sandler raised their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group raised their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Five investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.