Amy B. Summy Sells 3,672 Shares of Laboratory Co. of America Holdings (NYSE:LH) Stock

Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total value of $877,277.52. Following the transaction, the chief marketing officer now directly owns 4,318 shares of the company’s stock, valued at $1,031,613.38. This trade represents a 45.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Laboratory Co. of America Stock Up 1.4 %

LH opened at $242.18 on Thursday. The stock’s fifty day moving average is $226.97 and its 200-day moving average is $217.78. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The company has a market capitalization of $20.26 billion, a PE ratio of 46.84, a P/E/G ratio of 1.99 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the business earned $3.38 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.19%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

Analyst Ratings Changes

A number of brokerages recently commented on LH. Barclays upped their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. UBS Group lifted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial upped their target price on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LH. Bank of New York Mellon Corp lifted its holdings in shares of Laboratory Co. of America by 135.0% during the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after purchasing an additional 924,881 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Laboratory Co. of America by 25.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock valued at $396,771,000 after buying an additional 395,197 shares in the last quarter. Select Equity Group L.P. acquired a new position in shares of Laboratory Co. of America in the second quarter worth about $73,928,000. Allspring Global Investments Holdings LLC increased its position in shares of Laboratory Co. of America by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after acquiring an additional 263,105 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Laboratory Co. of America by 17.0% during the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock valued at $354,528,000 after acquiring an additional 230,708 shares during the period. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.