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 on Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. The trade was a 12.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Laboratory Co. of America Trading Up 1.8 %

NYSE LH opened at $236.74 on Thursday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The stock has a 50-day simple moving average of $244.33 and a 200 day simple moving average of $234.88. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $19.82 billion, a PE ratio of 26.84, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results 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%. Research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.22%. Laboratory Co. of America’s dividend payout ratio is 32.65%.

Hedge Funds Weigh In On Laboratory Co. of America

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after purchasing an additional 43 shares during the last quarter. SP Asset Management LLC lifted its holdings in shares of Laboratory Co. of America by 0.3% during the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after buying an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Laboratory Co. of America by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock valued at $2,931,000 after acquiring an additional 45 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Laboratory Co. of America by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock valued at $1,650,000 after acquiring an additional 46 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Laboratory Co. of America by 16.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LH shares. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Redburn Atlantic assumed coverage on Laboratory Co. of America in a research report on Wednesday. They issued a “buy” rating and a $276.00 price objective for the company. Morgan Stanley increased their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays cut their price target on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Finally, Piper Sandler increased their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $270.38.

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.