Adam H. Schechter Sells 6,121 Shares of Laboratory Co. of America Holdings (NYSE:LH) Stock

Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) CEO Adam H. Schechter sold 6,121 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Laboratory Co. of America Trading Up 0.8 %

Shares of LH traded up $1.87 during trading hours on Monday, reaching $246.74. The stock had a trading volume of 565,887 shares, compared to its average volume of 603,727. 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 Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The firm has a 50-day moving average of $237.42 and a 200 day moving average of $231.14. The company has a market cap of $20.64 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.84 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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%. On average, sell-side analysts expect that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America's payout ratio is presently 32.65%.

Hedge Funds Weigh In On Laboratory Co. of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Graney & King LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter worth about $26,000. SouthState Corp acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth about $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC lifted its stake in Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Finally, Riverview Trust Co lifted its stake 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 valued at $38,000 after purchasing an additional 107 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LH has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Morgan Stanley boosted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. UBS Group decreased their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Hsbc Global Res raised Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Finally, Bank of America lifted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $265.31.

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.