Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson Sells 500 Shares of Stock

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now directly owns 13,166 shares of the company’s stock, valued at $3,365,624.58. This represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Laboratory Co. of America Stock Down 0.4 %

Laboratory Co. of America stock opened at $253.00 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 one year low of $191.97 and a one year high of $258.59. The company has a 50-day simple moving average of $243.68 and a 200-day simple moving average of $233.67. The firm has a market capitalization of $21.18 billion, a P/E ratio of 28.68, a P/E/G ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. As a group, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent analyst reports. UBS Group cut their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Piper Sandler increased their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Barclays dropped their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Finally, Morgan Stanley increased their price target on shares of 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. Three analysts have rated the stock with a hold rating, twelve have issued 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 a consensus rating of “Moderate Buy” and a consensus target price of $268.38.

Institutional Trading of Laboratory Co. of America

Several hedge funds have recently added to or reduced their stakes in the business. Graney & King LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter worth $26,000. SouthState Corp bought a new position in Laboratory Co. of America in the 3rd quarter valued at about $28,000. Fortitude Family Office LLC increased its stake in Laboratory Co. of America by 312.5% during the 4th 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 period. Geneos Wealth Management Inc. raised its position in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. Finally, Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the 4th quarter worth approximately $39,000. 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.