Laboratory Co. of America Holdings (NYSE:LH) CEO Sells $1,497,319.02 in Stock

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 transaction of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Laboratory Co. of America Stock Performance

LH opened at $246.74 on Friday. The firm has a market capitalization of $20.64 billion, a PE ratio of 27.98, a PEG ratio of 1.84 and a beta of 1.07. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The firm’s 50-day moving average price is $237.42 and its 200 day moving average price is $230.91. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping 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%. As a group, sell-side analysts expect that Laboratory Co. of America Holdings will post 15.96 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 Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. Laboratory Co. of America’s payout ratio is presently 32.65%.

Hedge Funds Weigh In On Laboratory Co. of America

A number of institutional investors have recently bought and sold shares of LH. AMF Tjanstepension AB raised its stake in Laboratory Co. of America by 37.0% during the third quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock worth $19,232,000 after purchasing an additional 23,221 shares during the period. CWM LLC raised its stake in Laboratory Co. of America by 41.0% during the third quarter. CWM LLC now owns 7,107 shares of the medical research company’s stock worth $1,588,000 after purchasing an additional 2,068 shares during the period. Exchange Traded Concepts LLC raised its stake in Laboratory Co. of America by 1,962.5% during the third quarter. Exchange Traded Concepts LLC now owns 990 shares of the medical research company’s stock worth $221,000 after purchasing an additional 942 shares during the period. Swedbank AB raised its stake in Laboratory Co. of America by 12.0% during the third quarter. Swedbank AB now owns 56,884 shares of the medical research company’s stock worth $12,712,000 after purchasing an additional 6,089 shares during the period. Finally, Indiana Trust & Investment Management Co purchased a new position in Laboratory Co. of America during the third quarter worth about $136,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LH. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Barclays lowered their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Bank of America raised their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Morgan Stanley raised their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.