Laboratory Co. of America Holdings (NYSE:LH) Director Sells $235,000.00 in Stock

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Laboratory Co. of America Trading Down 0.8 %

Shares of NYSE LH traded down $1.86 during midday trading on Wednesday, reaching $233.24. 142,992 shares of the stock were exchanged, compared to its average volume of 477,788. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.51 billion, a P/E ratio of 45.11, a P/E/G ratio of 1.91 and a beta of 1.06. The stock has a 50 day moving average price of $234.30 and a 200-day moving average price of $224.18. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the firm posted $3.38 EPS. Laboratory Co. of America’s revenue was up 7.4% on a year-over-year basis. Equities research analysts expect that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, November 26th were issued a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.23%. Laboratory Co. of America’s payout ratio is 55.71%.

Institutional Trading of Laboratory Co. of America

A number of institutional investors and hedge funds have recently made changes to their positions in LH. SouthState Corp acquired a new position in Laboratory Co. of America during the third quarter valued at approximately $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Riverview Trust Co boosted its holdings in Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after acquiring an additional 107 shares during the period. Concord Wealth Partners grew its position in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 52 shares in the last quarter. Finally, Kennebec Savings Bank purchased a new stake in shares of Laboratory Co. of America during the third quarter valued at approximately $42,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays raised their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $260.00 to $265.00 in a research note on Tuesday. Finally, Morgan Stanley upped their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.54.

About Laboratory Co. of America

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.