Amy B. Summy Sells 758 Shares of Laboratory Co. of America Holdings (NYSE:LH) Stock

Laboratory Co. of America Holdings (NYSE:LH) EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the sale, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock traded down $0.31 during trading hours on Monday, hitting $229.71. The company’s stock had a trading volume of 276,764 shares, compared to its average volume of 619,544. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company has a market cap of $19.23 billion, a PE ratio of 26.07, a PEG ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The business has a 50 day moving average price of $244.80 and a two-hundred day moving average price of $234.69.

Laboratory Co. of America (NYSE:LH) last issued 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 return on equity of 15.29% and a net margin of 5.73%. Analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Graney & King LLC acquired a new stake in Laboratory Co. of America during the fourth quarter worth approximately $26,000. Fortitude Family Office LLC grew its holdings in 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 acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. raised its position in Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares during the period. Human Investing LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth $39,000. Finally, True Wealth Design LLC grew its position in Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LH shares. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Barclays decreased 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. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America raised their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Piper Sandler boosted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $269.92.

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.