Insider Selling: Laboratory Co. of America Holdings (NYSE:LH) Director Sells 586 Shares of Stock

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 586 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 14,722 shares of the company’s stock, valued at $3,312,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Laboratory Co. of America Stock Down 0.8 %

LH stock traded down $1.69 during mid-day trading on Friday, hitting $223.05. 30,021 shares of the company were exchanged, compared to its average volume of 721,322. The company has a market capitalization of $18.80 billion, a PE ratio of 45.22, a price-to-earnings-growth ratio of 1.76 and a beta of 1.05. The firm has a fifty day simple moving average of $207.57 and a 200 day simple moving average of $210.54. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $238.46.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the firm earned $3.42 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.29%. The ex-dividend date is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. UBS Group raised their price objective on 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. Finally, Truist Financial upped their target price on 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. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.15.

Hedge Funds Weigh In On Laboratory Co. of America

A number of hedge funds have recently added to or reduced their stakes in LH. Price T Rowe Associates Inc. MD raised its position in shares of Laboratory Co. of America by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after purchasing an additional 2,934 shares during the period. Northern Trust Corp lifted its stake in Laboratory Co. of America by 3.0% in the fourth quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock valued at $264,396,000 after buying an additional 33,493 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Laboratory Co. of America by 17.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock valued at $22,069,000 after acquiring an additional 14,708 shares during the period. Bank of Nova Scotia increased its holdings in shares of Laboratory Co. of America by 1,715.7% in the 4th quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock worth $39,814,000 after acquiring an additional 165,528 shares during the period. Finally, SG Americas Securities LLC lifted its position in Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock valued at $5,072,000 after purchasing an additional 17,156 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Company Profile

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).