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 on Monday, February 24th. The shares were 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 of the company’s stock, valued at $1,137,817.60. The trade was a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Laboratory Co. of America Stock Down 0.5 %

Laboratory Co. of America stock traded down $1.21 during trading hours on Wednesday, hitting $251.66. The stock had a trading volume of 159,917 shares, compared to its average volume of 578,027. The stock’s 50-day moving average price is $239.81 and its 200-day moving average price is $232.20. 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 market capitalization of $21.05 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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%. Equities research analysts anticipate 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 is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.14%. Laboratory Co. of America’s payout ratio is 32.65%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Jefferies Financial Group raised their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. UBS Group cut their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, Piper Sandler raised their target price 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. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.31.

Institutional Investors Weigh In On Laboratory Co. of America

Large investors have recently made changes to their positions in the company. AMF Tjanstepension AB lifted its holdings in Laboratory Co. of America by 37.0% during the 3rd quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock valued at $19,232,000 after buying an additional 23,221 shares in the last quarter. Private Advisor Group LLC increased its position 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 period. International Assets Investment Management LLC increased its holdings in 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 worth $15,083,000 after buying an additional 67,378 shares during the period. Assenagon Asset Management S.A. acquired a new position in Laboratory Co. of America in the third quarter valued at approximately $854,000. Finally, Ballentine Partners LLC acquired a new position in shares of Laboratory Co. of America in the third quarter worth about $249,000. 95.94% of the stock is owned by institutional investors.

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.