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

Laboratory Co. of America Holdings (NYSE:LH) EVP Amy B. Summy sold 758 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website.

Laboratory Co. of America Stock Down 0.0 %

Shares of NYSE:LH opened at $232.63 on Wednesday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a market capitalization of $19.47 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The business has a fifty day moving average price of $244.45 and a two-hundred day moving average price of $234.86. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.24%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Wall Street Analyst Weigh In

LH has been the topic of a number of research reports. Piper Sandler upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Barclays lowered their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Morgan Stanley raised their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Bank of America increased their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average target price of $269.92.

Hedge Funds Weigh In On Laboratory Co. of America

Several institutional investors have recently bought and sold shares of LH. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Laboratory Co. of America in the fourth quarter valued at $25,929,000. Jefferies Financial Group Inc. raised its stake in Laboratory Co. of America by 156.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 25,513 shares of the medical research company’s stock valued at $5,851,000 after acquiring an additional 15,582 shares during the period. Heck Capital Advisors LLC purchased a new stake in Laboratory Co. of America during the fourth quarter valued at about $44,000. Forum Financial Management LP boosted its position in Laboratory Co. of America by 93.9% during the fourth quarter. Forum Financial Management LP now owns 2,461 shares of the medical research company’s stock worth $564,000 after purchasing an additional 1,192 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $481,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

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.