Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson Sells 500 Shares

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $260.00, for a total transaction of $130,000.00. Following the sale, the director now directly owns 12,666 shares of the company’s stock, valued at approximately $3,293,160. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Laboratory Co. of America Stock Down 0.3%

Shares of NYSE:LH opened at $260.84 on Friday. Laboratory Co. of America Holdings has a 52 week low of $195.21 and a 52 week high of $263.60. 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 company has a market capitalization of $21.83 billion, a PE ratio of 29.57, a PEG ratio of 1.71 and a beta of 0.81. The company has a 50 day moving average price of $240.58 and a two-hundred day moving average price of $239.50.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.73 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.68 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.10%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 33.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Graney & King LLC acquired a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC boosted its holdings in Laboratory Co. of America by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. acquired a new position in Laboratory Co. of America during the first quarter worth $27,000. TruNorth Capital Management LLC acquired a new position in Laboratory Co. of America during the first quarter worth $28,000. Finally, Larson Financial Group LLC boosted its holdings in Laboratory Co. of America by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Piper Sandler reissued a “neutral” rating and set a $280.00 price target (up from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price target for the company. Finally, Truist Financial boosted their price target on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $274.00.

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.