Laboratory Co. of America Holdings (NYSE:LH) EVP Amy B. Summy Sells 758 Shares

Laboratory Co. of America Holdings (NYSE:LH) EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. This trade represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Laboratory Co. of America Stock Up 1.2 %

LH stock opened at $232.80 on Tuesday. The company has a market cap of $19.49 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 1.71 and a beta of 1.12. The firm has a 50-day moving average of $244.68 and a two-hundred day moving average of $234.78. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. As a group, analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

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

Hedge Funds Weigh In On Laboratory Co. of America

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in Laboratory Co. of America by 17.0% in the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock valued at $354,528,000 after acquiring an additional 230,708 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $596,000. CreativeOne Wealth LLC grew its holdings in shares of Laboratory Co. of America by 19.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company’s stock worth $332,000 after purchasing an additional 245 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Laboratory Co. of America by 14.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company’s stock worth $3,953,000 after purchasing an additional 2,234 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Laboratory Co. of America by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 914,019 shares of the medical research company’s stock valued at $204,265,000 after buying an additional 49,203 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LH has been the subject of a number of recent analyst reports. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Piper Sandler upped their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Jefferies Financial Group raised their price objective 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. UBS Group reduced their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average target price of $269.92.

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.