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 business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Laboratory Co. of America Trading Down 0.9 %

Shares of LH stock opened at $232.12 on Friday. The company has a market cap of $19.41 billion, a price-to-earnings ratio of 44.90, a PEG ratio of 1.91 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a fifty day moving average price of $234.59 and a 200-day moving average price of $224.49. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99.

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

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.24%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Analyst Ratings Changes

A number of brokerages recently weighed in on LH. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Bank of America lifted their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $275.00 target price (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Robert W. Baird lifted their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $260.54.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. TD Asset Management Inc lifted its stake in Laboratory Co. of America by 8.9% in the 2nd quarter. TD Asset Management Inc now owns 33,647 shares of the medical research company’s stock worth $6,848,000 after purchasing an additional 2,736 shares in the last quarter. Caprock Group LLC lifted its stake in Laboratory Co. of America by 32.8% in the 2nd quarter. Caprock Group LLC now owns 4,185 shares of the medical research company’s stock worth $852,000 after purchasing an additional 1,034 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Laboratory Co. of America in the 2nd quarter worth $118,000. Choreo LLC purchased a new stake in Laboratory Co. of America in the 2nd quarter worth $432,000. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in Laboratory Co. of America by 2.8% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,336 shares of the medical research company’s stock worth $882,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

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.