Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy Sells 226 Shares

Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the sale, the chief marketing officer now directly owns 4,544 shares in the company, valued at $1,137,817.60. This trade represents a 4.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Laboratory Co. of America Stock Down 0.5 %

Laboratory Co. of America stock traded down $1.21 during trading hours on Wednesday, hitting $251.66. The company had a trading volume of 159,917 shares, compared to its average volume of 578,027. The firm’s fifty day moving average is $239.81 and its 200-day moving average is $232.20. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The firm has a market capitalization of $21.05 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. On average, research analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.14%. Laboratory Co. of America’s payout ratio is 32.65%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LH shares. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Bank of America raised their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their price target on shares of 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. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Piper Sandler boosted 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, February 10th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Hedge Funds Weigh In On Laboratory Co. of America

Institutional investors and hedge funds have recently bought and sold shares of the stock. Graney & King LLC bought a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $26,000. SouthState Corp bought a new position in Laboratory Co. of America in the third quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its position in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Finally, Human Investing LLC bought a new stake in Laboratory Co. of America in the 4th quarter valued at approximately $39,000. 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.