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

Laboratory Co. of America Holdings (NYSE:LH) CEO Adam H. Schechter sold 6,105 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 98,962 shares in the company, valued at $24,614,818.26. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Laboratory Co. of America Trading Up 1.6%

Shares of Laboratory Co. of America stock opened at $246.18 on Friday. The company has a market capitalization of $20.61 billion, a P/E ratio of 27.91, a P/E/G ratio of 1.71 and a beta of 0.82. 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 fifty day moving average of $233.37 and a 200 day moving average of $237.44. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.11. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the prior year, the firm posted $3.68 EPS. Laboratory Co. of America’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 33.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC boosted its holdings in shares of Laboratory Co. of America by 20.8% during the 1st quarter. EP Wealth Advisors LLC now owns 1,606 shares of the medical research company’s stock valued at $374,000 after purchasing an additional 277 shares during the last quarter. Beck Mack & Oliver LLC boosted its holdings in shares of Laboratory Co. of America by 2.3% during the 1st quarter. Beck Mack & Oliver LLC now owns 627,018 shares of the medical research company’s stock valued at $145,932,000 after purchasing an additional 13,986 shares during the last quarter. Quarry LP bought a new position in shares of Laboratory Co. of America during the 1st quarter valued at about $528,000. Vident Advisory LLC boosted its holdings in shares of Laboratory Co. of America by 50.4% during the 1st quarter. Vident Advisory LLC now owns 2,221 shares of the medical research company’s stock valued at $517,000 after purchasing an additional 744 shares during the last quarter. Finally, GKV Capital Management Co. Inc. bought a new position in shares of Laboratory Co. of America in the 1st quarter valued at about $154,000. Institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LH. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Robert W. Baird boosted their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Jefferies Financial Group boosted their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Barclays boosted their price objective on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Finally, Truist Financial boosted their target price on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the company a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.62.

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.