Laboratory Co. of America Holdings (NYSE:LH) CMO Sells $56,590.40 in Stock

Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) CMO Amy B. Summy sold 226 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the sale, the chief marketing officer now owns 4,544 shares of the company's stock, valued at approximately $1,137,817.60. The trade was a 4.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock traded up $3.66 during trading on Friday, hitting $251.45. 553,356 shares of the company were exchanged, compared to its average volume of 579,873. 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 fifty-two week low of $191.97 and a fifty-two week high of $258.59. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 1.71 and a beta of 1.07. The firm has a 50 day moving average price of $241.20 and a 200 day moving average price of $232.78.

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 the consensus estimate 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, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

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Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 32.65%.

Analysts Set New Price Targets

A number of research firms have commented on LH. Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and raised their target price for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Barclays reduced their target price on Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating for the company in a report on Friday, February 7th. Jefferies Financial Group raised their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Piper Sandler lifted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Finally, Bank of America lifted 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 research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Laboratory Co. of America has a consensus rating of "Moderate Buy" and a consensus price target of $265.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Graney & King LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter valued at about $26,000. SouthState Corp acquired a new position in shares of Laboratory Co. of America during the 3rd quarter valued at about $28,000. Fortitude Family Office LLC increased its stake in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company's stock worth $38,000 after buying an additional 52 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after buying an additional 127 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

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.