Insider Selling: Laboratory Co. of America Holdings (NYSE:LH) Director Sells 1,000 Shares of Stock

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the director now owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Laboratory Co. of America Trading Down 0.6 %

Shares of Laboratory Co. of America stock opened at $228.63 on Friday. The company has a market capitalization of $19.20 billion, a P/E ratio of 43.30, a P/E/G ratio of 1.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. The company has a fifty day moving average of $222.60 and a 200 day moving average of $212.39. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $239.50.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. Laboratory Co. of America’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.38 EPS. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.55 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 54.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oak Harvest Investment Services bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at about $894,000. Lodestar Private Asset Management LLC bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at about $219,000. abrdn plc boosted its holdings in shares of Laboratory Co. of America by 13.8% during the 3rd quarter. abrdn plc now owns 76,999 shares of the medical research company’s stock valued at $17,142,000 after purchasing an additional 9,328 shares during the last quarter. SFE Investment Counsel boosted its holdings in shares of Laboratory Co. of America by 21.5% during the 3rd quarter. SFE Investment Counsel now owns 28,779 shares of the medical research company’s stock valued at $6,432,000 after purchasing an additional 5,101 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of Laboratory Co. of America by 20.6% during the 3rd quarter. Pallas Capital Advisors LLC now owns 1,923 shares of the medical research company’s stock valued at $442,000 after purchasing an additional 328 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LH shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. UBS Group boosted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays boosted their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday. Evercore ISI cut their price objective on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Finally, Bank of America boosted their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.54.

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.