Laboratory Co. of America Holdings (NYSE:LH) CEO Sells $1,506,835.83 in Stock

Laboratory Co. of America Holdings (NYSE:LH) CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Laboratory Co. of America Price Performance

Shares of LH stock opened at $244.26 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a market cap of $20.43 billion, a P/E ratio of 47.25, a P/E/G ratio of 2.01 and a beta of 1.05. The business’s 50 day moving average price is $223.60 and its 200-day moving average price is $215.03. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the firm earned $3.38 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.53 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 Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued 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 1.18%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Institutional Trading of Laboratory Co. of America

Several large investors have recently bought and sold shares of LH. Bank of New York Mellon Corp grew its holdings in Laboratory Co. of America by 135.0% in the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock worth $327,616,000 after purchasing an additional 924,881 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Laboratory Co. of America by 25.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock worth $396,771,000 after purchasing an additional 395,197 shares in the last quarter. Select Equity Group L.P. purchased a new stake in shares of Laboratory Co. of America in the 2nd quarter worth approximately $73,928,000. Allspring Global Investments Holdings LLC increased its position in Laboratory Co. of America by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after buying an additional 263,105 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in Laboratory Co. of America during the first quarter valued at $45,567,000. 95.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Evercore ISI decreased their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. UBS Group boosted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America raised their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Piper Sandler boosted their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $255.92.

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.