Laboratory Co. of America (NYSE:LH) Reaches New 1-Year High - Here's Why

Shares of Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $258.59 and last traded at $255.33, with a volume of 43681 shares. The stock had previously closed at $256.81.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LH shares. StockNews.com upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Jefferies Financial Group boosted their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Bank of America boosted 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. Piper Sandler boosted 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, Barclays decreased their target price on Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $268.38.

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Laboratory Co. of America Price Performance

The stock has a market capitalization of $21.18 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $243.68 and a 200 day moving average of $233.72.

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

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.14%. Laboratory Co. of America's dividend payout ratio is presently 32.65%.

Insider Activity

In other news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 13,166 shares in the company, valued at approximately $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mark S. Schroeder sold 5,339 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $249.23, for a total value of $1,330,638.97. Following the completion of the sale, the chief operating officer now owns 4,960 shares of the company's stock, valued at approximately $1,236,180.80. This trade represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,500 shares of company stock worth $3,577,572. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Private Trust Co. NA lifted its holdings in Laboratory Co. of America by 3.2% during the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company's stock worth $300,000 after buying an additional 41 shares during the last quarter. Empowered Funds LLC lifted its holdings in Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock worth $1,840,000 after buying an additional 43 shares during the last quarter. SP Asset Management LLC lifted its holdings in Laboratory Co. of America by 0.3% during the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock worth $3,483,000 after buying an additional 43 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Laboratory Co. of America by 0.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock worth $2,931,000 after buying an additional 45 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Laboratory Co. of America by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock worth $1,650,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

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.