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

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 500 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were 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 $3,293,160. The trade was a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Laboratory Co. of America Price Performance

Shares of LH opened at $261.63 on Friday. The business’s 50-day moving average is $239.71 and its two-hundred day moving average is $239.34. The company has a market capitalization of $21.90 billion, a P/E ratio of 29.66, a P/E/G ratio of 1.71 and a beta of 0.81. Laboratory Co. of America Holdings has a fifty-two week low of $192.38 and a fifty-two week high of $262.13. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

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

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.10%. Laboratory Co. of America’s dividend payout ratio (DPR) is 33.29%.

Hedge Funds Weigh In On Laboratory Co. of America

Large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after buying an additional 43 shares in the last quarter. SP Asset Management LLC increased its stake in shares of Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after purchasing an additional 43 shares in the last quarter. Wedmont Private Capital increased its stake in shares of Laboratory Co. of America by 5.0% in the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company’s stock valued at $204,000 after purchasing an additional 44 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Laboratory Co. of America by 0.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after purchasing an additional 45 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its position in Laboratory Co. of America by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock worth $778,000 after purchasing an additional 45 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and set a $280.00 price target (up from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Truist Financial raised their price target on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Wall Street Zen lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Finally, Redburn Atlantic began coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective on the stock. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $274.00.

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.