Laboratory Co. of America Holdings (NYSE:LH – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $249.89 and last traded at $249.13, with a volume of 32820 shares changing hands. The stock had previously closed at $246.00.
Wall Street Analyst Weigh In
Several analysts have commented on LH shares. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Bank of America upped their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Robert W. Baird upped their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Four equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.54.
View Our Latest Stock Report on LH
Laboratory Co. of America Price Performance
Laboratory Co. of America (NYSE:LH – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.38 EPS. As a group, equities research analysts expect that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.
Laboratory Co. of America Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.16%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.
Insider Buying and Selling
In other news, CMO Amy B. Summy sold 3,672 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the transaction, the chief marketing officer now directly owns 4,318 shares in the company, valued at $1,031,613.38. The trade was a 45.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock worth $5,915,209 in the last 90 days. Insiders own 0.85% of the company’s stock.
Institutional Trading of Laboratory Co. of America
Several large investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA grew its holdings in shares of Laboratory Co. of America by 3.2% in the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after purchasing an additional 41 shares during the period. Empirical Finance LLC increased its holdings in shares of Laboratory Co. of America by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after buying an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock valued at $81,000 after buying an additional 50 shares during the period. Concord Wealth Partners grew its position in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after acquiring an additional 52 shares during the period. Finally, Rehmann Capital Advisory Group increased its stake in Laboratory Co. of America by 1.9% during the third quarter. Rehmann Capital Advisory Group now owns 2,844 shares of the medical research company’s stock worth $637,000 after acquiring an additional 53 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.
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.
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