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 stock in a transaction 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 sale, 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 filing with the SEC, which is available through this link.

Laboratory Co. of America Stock Up 1.8 %

Shares of LH opened at $236.74 on Thursday. The company has a market capitalization of $19.82 billion, a PE ratio of 26.84, a PEG ratio of 1.71 and a beta of 1.12. The stock’s 50-day moving average price is $244.33 and its two-hundred day moving average price is $234.88. 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 Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate 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%. On average, analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Wall Street Analyst Weigh In

LH has been the topic of a number of analyst reports. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. 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 note on Monday, February 10th. Morgan Stanley lifted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, UBS Group dropped their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $270.38.

Hedge Funds Weigh In On Laboratory Co. of America

Several hedge funds and other institutional investors have recently bought and sold shares of LH. Norges Bank bought a new position in shares of Laboratory Co. of America in the 4th quarter worth about $239,811,000. Select Equity Group L.P. grew its stake in Laboratory Co. of America by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company’s stock worth $365,985,000 after purchasing an additional 959,981 shares during the period. Amundi increased its holdings in Laboratory Co. of America by 344.9% in the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock worth $263,161,000 after purchasing an additional 870,903 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in Laboratory Co. of America in the fourth quarter valued at approximately $123,415,000. Finally, Alliancebernstein L.P. boosted its holdings in shares of Laboratory Co. of America by 59.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company’s stock worth $234,160,000 after buying an additional 380,624 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.