Insider Selling: Laboratory Co. of America Holdings (NYSE:LH) EVP Sells 758 Shares of Stock

Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the transaction, the executive vice president now owns 5,302 shares of the company's stock, valued at $1,228,314.34. The trade was a 12.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Laboratory Co. of America Price Performance

Shares of LH stock traded down $3.10 on Thursday, hitting $233.27. 1,123,422 shares of the stock traded hands, compared to its average volume of 625,315. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. 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 simple moving average of $244.33 and a two-hundred day simple moving average of $234.88. The firm has a market cap of $19.52 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate 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 predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Remove Ads

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.23%. Laboratory Co. of America's dividend payout ratio is 32.65%.

Hedge Funds Weigh In On Laboratory Co. of America

Institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company's stock valued at $832,827,000 after purchasing an additional 25,469 shares during the last quarter. Geode Capital Management LLC boosted its stake in Laboratory Co. of America by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company's stock valued at $458,334,000 after buying an additional 39,255 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after purchasing an additional 167,137 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Laboratory Co. of America by 2.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company's stock worth $437,357,000 after acquiring an additional 51,045 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Laboratory Co. of America by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company's stock valued at $418,042,000 after acquiring an additional 41,898 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LH shares. StockNews.com downgraded shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Bank of America increased their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Barclays reduced their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Morgan Stanley increased their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, Redburn Atlantic began coverage on Laboratory Co. of America in a report on Wednesday. They set a "buy" rating and a $276.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Laboratory Co. of America currently has an average rating of "Moderate Buy" and an average target price of $270.38.

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.