Kerrii B. Anderson Sells 500 Shares of Laboratory Co. of America Holdings (NYSE:LH) Stock

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, the director now owns 13,166 shares of the company’s stock, valued at approximately $3,365,624.58. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $253.00 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $21.18 billion, a PE ratio of 28.68, a P/E/G ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The company has a 50-day moving average price of $243.68 and a two-hundred day moving average price of $233.72.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared 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 dividend on an annualized basis 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 32.65%.

Analyst Ratings Changes

LH has been the subject of several research reports. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Barclays reduced their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. UBS Group reduced their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America increased their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $268.38.

Institutional Investors Weigh In On Laboratory Co. of America

Institutional investors and hedge funds have recently modified their holdings of the company. Graney & King LLC purchased a new stake in shares of Laboratory Co. of America in the fourth quarter worth about $26,000. SouthState Corp purchased a new stake in shares of Laboratory Co. of America in the third quarter worth about $28,000. Fortitude Family Office LLC lifted its holdings in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Finally, Human Investing LLC purchased a new stake in Laboratory Co. of America in the fourth quarter valued at approximately $39,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.