Kerrii B. Anderson Sells 1,000 Shares of Laboratory Co. of America Holdings (NYSE:LH) Stock

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $228.63 on Friday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $239.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77. The company’s 50-day moving average is $222.60 and its 200 day moving average is $212.39. The stock has a market capitalization of $19.20 billion, a P/E ratio of 43.30, a P/E/G ratio of 1.70 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. Laboratory Co. of America’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.38 earnings per share. On average, sell-side analysts expect that Laboratory Co. of America Holdings will post 14.55 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm 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. This represents a $2.88 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 54.55%.

Institutional Investors Weigh In On Laboratory Co. of America

A number of hedge funds and other institutional investors have recently bought and sold shares of LH. Insight Inv LLC increased its position in shares of Laboratory Co. of America by 1.3% during the second quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock valued at $718,000 after acquiring an additional 45 shares in the last quarter. Athena Investment Management raised its holdings in Laboratory Co. of America by 4.8% in the 2nd quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock worth $212,000 after acquiring an additional 48 shares during the last quarter. Connecticut Wealth Management LLC raised its holdings in Laboratory Co. of America by 1.8% in the 1st quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock worth $649,000 after acquiring an additional 52 shares during the last quarter. Concord Wealth Partners raised its holdings in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after acquiring an additional 52 shares during the last quarter. Finally, Pure Financial Advisors LLC raised its holdings in Laboratory Co. of America by 5.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock worth $222,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of several recent research reports. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday. Piper Sandler began coverage on shares of Laboratory Co. of America in a research note on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 price target for the company. Evercore ISI lowered their price objective on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, September 24th. Barclays upped their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Truist Financial upped their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Five 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, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average price target of $253.54.

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.