Amy B. Summy Sells 3,672 Shares of Laboratory Co. of America Holdings (NYSE:LH) Stock

Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy sold 3,672 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the completion of the sale, the chief marketing officer now directly owns 4,318 shares of the company’s stock, valued at approximately $1,031,613.38. This represents a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Laboratory Co. of America Trading Up 1.4 %

NYSE:LH opened at $242.18 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $226.97 and its 200-day moving average is $217.78. The firm has a market cap of $20.26 billion, a price-to-earnings ratio of 46.84, a P/E/G ratio of 1.99 and a beta of 1.05. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $247.99.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.38 EPS. Equities analysts anticipate that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LH. Barclays increased their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Evercore ISI decreased their target price on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, September 24th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Bank of America lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Truist Financial raised their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LH. Price T Rowe Associates Inc. MD lifted its stake in shares of Laboratory Co. of America by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock valued at $25,012,000 after buying an additional 2,934 shares during the period. Great Valley Advisor Group Inc. bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth approximately $473,000. OneDigital Investment Advisors LLC grew its holdings in shares of Laboratory Co. of America by 115.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock worth $1,361,000 after purchasing an additional 3,265 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Laboratory Co. of America by 13.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 187,286 shares of the medical research company’s stock valued at $40,259,000 after purchasing an additional 22,759 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Laboratory Co. of America by 35.4% in the second quarter. SG Americas Securities LLC now owns 31,435 shares of the medical research company’s stock valued at $6,397,000 after purchasing an additional 8,218 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.