Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson Sells 1,000 Shares

Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Laboratory Co. of America Stock Down 0.4 %

NYSE LH traded down $0.92 during trading on Wednesday, reaching $234.18. 439,155 shares of the company's stock were exchanged, compared to its average volume of 537,589. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The stock has a market cap of $19.59 billion, a P/E ratio of 45.30, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The company has a 50 day moving average price of $234.30 and a two-hundred day moving average price of $224.18.

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

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, November 26th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.23%. Laboratory Co. of America's dividend payout ratio is currently 55.71%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, October 30th. Bank of America raised their price objective 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. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and upped their target price for the company from $260.00 to $265.00 in a research report on Tuesday. Piper Sandler lifted their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Finally, StockNews.com lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $260.54.

Institutional Investors Weigh In On Laboratory Co. of America

A number of institutional investors and hedge funds have recently bought and sold shares of LH. SouthState Corp acquired a new stake in Laboratory Co. of America during the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America during the third quarter worth about $29,000. Riverview Trust Co boosted its stake in shares of Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock worth $38,000 after buying an additional 107 shares during the period. Concord Wealth Partners grew its holdings in shares of Laboratory Co. of America by 43.3% during the third 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, Kennebec Savings Bank acquired a new position in Laboratory Co. of America in the 3rd quarter valued at about $42,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

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.