Insider Selling: Laboratory Co. of America Holdings (NYSE:LH) Director Sells $127,815.00 in Stock

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now owns 13,166 shares of the company’s stock, valued at approximately $3,365,624.58. This represents a 3.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Laboratory Co. of America Price Performance

LH opened at $253.00 on Monday. 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. The business’s fifty day simple moving average is $243.68 and its 200-day simple moving average is $233.76. The company has a market capitalization of $21.18 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.71 and a beta of 1.12.

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 (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%. On average, equities research 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Analyst Ratings Changes

A number of research firms have recently commented on LH. 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 note on Tuesday, March 4th. Jefferies Financial Group upped their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Piper Sandler increased 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. UBS Group reduced their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Bank of America increased their target price 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. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $268.38.

Institutional Investors Weigh In On Laboratory Co. of America

A number of institutional investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA boosted its position in Laboratory Co. of America by 3.2% during the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after purchasing an additional 41 shares in the last quarter. Empowered Funds LLC raised its position in Laboratory Co. of America by 0.5% during the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after acquiring an additional 43 shares in the last quarter. SP Asset Management LLC raised its position in Laboratory Co. of America by 0.3% during the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after acquiring an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock valued at $2,931,000 after acquiring an additional 45 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock valued at $1,650,000 after acquiring an additional 46 shares in the last quarter. 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.