Laboratory Co. of America Holdings (NYSE:LH) CEO Adam H. Schechter Sells 6,105 Shares of Stock

Laboratory Co. of America Holdings (NYSE:LH) CEO Adam H. Schechter sold 6,105 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the sale, the chief executive officer now owns 98,962 shares of the company’s stock, valued at approximately $24,614,818.26. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Laboratory Co. of America Trading Down 0.3%

Laboratory Co. of America stock opened at $250.24 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The business’s 50-day simple moving average is $233.54 and its 200-day simple moving average is $237.28. The firm has a market capitalization of $20.95 billion, a PE ratio of 28.37, a PEG ratio of 1.71 and a beta of 0.82. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.68 earnings per share. Equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 33.29%.

Institutional Investors Weigh In On Laboratory Co. of America

A number of institutional investors have recently added to or reduced their stakes in LH. Norges Bank acquired a new stake in Laboratory Co. of America during the fourth quarter worth about $239,811,000. Select Equity Group L.P. grew its position in Laboratory Co. of America by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company’s stock worth $365,985,000 after buying an additional 959,981 shares in the last quarter. Amundi grew its position in Laboratory Co. of America by 344.9% during the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock worth $263,161,000 after buying an additional 870,903 shares in the last quarter. GAMMA Investing LLC grew its position in Laboratory Co. of America by 37,334.2% during the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company’s stock worth $188,450,000 after buying an additional 807,539 shares in the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in Laboratory Co. of America during the fourth quarter worth about $123,415,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LH has been the subject of several recent research reports. Robert W. Baird increased their price objective on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Jefferies Financial Group raised their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Piper Sandler restated a “neutral” rating and set a $280.00 target price (up from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Redburn Atlantic began coverage on Laboratory Co. of America in a report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 target price on the stock. Finally, UBS Group cut their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $270.62.

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.