Laboratory Co. of America Holdings (NYSE:LH) CEO Adam H. Schechter Sells 6,121 Shares

Laboratory Co. of America Holdings (NYSE:LH) CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Laboratory Co. of America Price Performance

NYSE LH traded up $3.27 on Thursday, reaching $244.42. The company’s stock had a trading volume of 92,377 shares, compared to its average volume of 595,267. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week 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 firm has a market cap of $20.44 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. The business has a 50-day moving average price of $236.92 and a 200 day moving average price of $230.55.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating 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%. Sell-side analysts expect that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Analyst Upgrades and Downgrades

Several brokerages have commented on LH. Morgan Stanley increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Piper Sandler upped their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday. Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays cut their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $265.31.

Institutional Trading of Laboratory Co. of America

Several large investors have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC raised its position in Laboratory Co. of America by 115.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after purchasing an additional 3,265 shares during the last quarter. Alexander Randolph Advisory Inc. bought a new stake in Laboratory Co. of America during the 3rd quarter worth about $955,000. Wealthcare Advisory Partners LLC raised its stake in shares of Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after acquiring an additional 490 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Laboratory Co. of America during the third quarter valued at approximately $2,316,000. Finally, Barclays PLC lifted its holdings in Laboratory Co. of America by 11.8% during the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after buying an additional 65,356 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

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.