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

Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy sold 226 shares of Laboratory Co. of America 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 completion of the transaction, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. The trade was a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Laboratory Co. of America Stock Down 0.4 %

NYSE LH opened at $251.84 on Thursday. 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 stock’s 50 day moving average is $240.32 and its two-hundred day moving average is $232.34. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.71 and a beta of 1.07. 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 announced 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 return on equity of 15.29% and a net margin of 5.73%. Equities analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LH. Barclays dropped their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Jefferies Financial Group boosted their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley boosted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler boosted their price target on 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. Finally, UBS Group lowered their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Graney & King LLC acquired a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $26,000. SouthState Corp acquired a new position in Laboratory Co. of America during the 3rd quarter worth $28,000. Fortitude Family Office LLC boosted its position in Laboratory Co. of America by 312.5% in 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 last quarter. Concord Wealth Partners boosted its position in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Laboratory Co. of America by 309.8% in the 4th 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. 95.94% of the stock is owned by institutional investors and hedge funds.

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.