Adam H. Schechter Sells 6,189 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 6,189 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares in the company, valued at approximately $21,289,260.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Laboratory Co. of America Trading Up 0.8 %

Shares of LH traded up $1.96 during midday trading on Wednesday, hitting $246.22. The stock had a trading volume of 623,944 shares, compared to its average volume of 667,040. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The business has a 50-day simple moving average of $223.60 and a two-hundred day simple moving average of $215.03. 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 firm has a market cap of $20.59 billion, a P/E ratio of 47.58, a price-to-earnings-growth ratio of 2.01 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.38 EPS. As a group, equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio is currently 55.71%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LH shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Bank of America upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Barclays lifted their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group boosted their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating, ten have assigned 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 a consensus target price of $255.92.

Institutional Investors Weigh In On Laboratory Co. of America

A number of institutional investors have recently bought and sold shares of LH. Brooklyn Investment Group acquired a new position in shares of Laboratory Co. of America in the third quarter worth $129,000. Quantbot Technologies LP purchased a new position in Laboratory Co. of America in the third quarter valued at about $596,000. FMR LLC increased its position in Laboratory Co. of America by 17.0% in the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company's stock worth $354,528,000 after purchasing an additional 230,708 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter worth about $276,000. Finally, Bank of Montreal Can lifted its holdings in shares of Laboratory Co. of America by 3.1% during the 3rd quarter. Bank of Montreal Can now owns 149,191 shares of the medical research company's stock valued at $33,135,000 after buying an additional 4,439 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Company Profile

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.