Laboratory Co. of America Holdings (NYSE:LH) EVP Sells $175,605.86 in Stock

Laboratory Co. of America Holdings (NYSE:LH) EVP Amy B. Summy sold 758 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was 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 approximately $1,228,314.34. This represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $232.80 on Tuesday. 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 52 week low of $191.97 and a 52 week high of $258.59. The firm’s 50 day moving average is $244.68 and its two-hundred day moving average is $234.78. The firm has a market capitalization of $19.49 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates 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%. Research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LH. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley lifted 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 report on Tuesday, December 17th. Jefferies Financial Group increased their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $269.92.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Laboratory Co. of America during the fourth quarter worth approximately $239,811,000. Select Equity Group L.P. increased its stake in Laboratory Co. of America by 150.9% in the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company’s stock valued at $365,985,000 after purchasing an additional 959,981 shares during the period. Amundi raised its holdings in shares of Laboratory Co. of America by 344.9% in the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock valued at $263,161,000 after buying an additional 870,903 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter worth about $123,415,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Laboratory Co. of America by 59.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company’s stock worth $234,160,000 after buying an additional 380,624 shares during the last quarter. Hedge funds and other institutional investors 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.