Laboratory Co. of America Holdings (NYSE:LH) Director Sells $127,815.00 in Stock

Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) Director Kerrii B. Anderson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the sale, the director now directly owns 13,166 shares of the company's stock, valued at $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Laboratory Co. of America Price Performance

Shares of NYSE:LH traded down $1.07 during midday trading on Friday, reaching $253.00. The company's stock had a trading volume of 801,584 shares, compared to its average volume of 607,434. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The company has a market capitalization of $21.18 billion, a P/E ratio of 28.68, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The business's fifty day simple moving average is $243.68 and its 200-day simple moving average is $233.72.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts' consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. As a group, equities research analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

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Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.14%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 32.65%.

Wall Street Analysts Forecast Growth

LH has been the subject of several research reports. Bank of America raised their target price on 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. Morgan Stanley raised their target price on 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. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their target price for the stock from $250.00 to $300.00 in a research report on Tuesday. Piper Sandler raised their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Three investment 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $268.38.

Institutional Trading of Laboratory Co. of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Private Trust Co. NA increased its position in Laboratory Co. of America by 3.2% in the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company's stock worth $300,000 after purchasing an additional 41 shares during the period. Empowered Funds LLC increased its position in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock worth $1,840,000 after purchasing an additional 43 shares during the period. SP Asset Management LLC increased its position in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock worth $3,483,000 after purchasing an additional 43 shares during the period. Oppenheimer Asset Management Inc. increased its position in Laboratory Co. of America by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock worth $2,931,000 after purchasing an additional 45 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in Laboratory Co. of America by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock worth $1,650,000 after purchasing an additional 46 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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.