Laboratory Co. of America Holdings (NYSE:LH) CMO Sells $56,590.40 in Stock

Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy sold 226 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction 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. This trade represents a 4.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Laboratory Co. of America Trading Up 1.5 %

Shares of LH stock opened at $251.45 on Friday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a market capitalization of $21.03 billion, a PE ratio of 28.51, a PEG ratio of 1.71 and a beta of 1.07. The stock has a fifty day simple moving average of $241.20 and a two-hundred day simple moving average of $232.64.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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%. On average, analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. Laboratory Co. of America’s payout ratio is 32.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LH. AMF Tjanstepension AB grew its position in shares of Laboratory Co. of America by 37.0% during the third quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock valued at $19,232,000 after purchasing an additional 23,221 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Laboratory Co. of America by 55.2% in the 3rd quarter. Private Advisor Group LLC now owns 8,410 shares of the medical research company’s stock valued at $1,879,000 after acquiring an additional 2,990 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Laboratory Co. of America by 59,626.5% in the 3rd quarter. International Assets Investment Management LLC now owns 67,491 shares of the medical research company’s stock valued at $15,083,000 after acquiring an additional 67,378 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $854,000. Finally, Ballentine Partners LLC bought a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $249,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

LH has been the topic of several recent research reports. UBS Group decreased their price target on shares of 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 Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. 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. Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $265.75.

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.