Insider Selling: Laboratory Co. of America Holdings (NYSE:LH) CEO Sells 6,121 Shares of Stock

Laboratory Co. of America Holdings (NYSE:LH) CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Laboratory Co. of America Stock Up 0.8 %

Shares of NYSE LH opened at $246.74 on Friday. The stock has a market capitalization of $20.64 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.84 and a beta of 1.07. The company has a 50-day moving average price of $237.13 and a 200-day moving average price of $230.66. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Laboratory Co. of America Holdings will post 15.96 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LH. AMF Tjanstepension AB lifted its position in shares of 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 valued at $19,232,000 after purchasing an additional 23,221 shares in the last quarter. CWM LLC lifted its position in shares of 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 valued at $1,588,000 after purchasing an additional 2,068 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of 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 valued at $221,000 after purchasing an additional 942 shares in the last quarter. Swedbank AB lifted its position in shares of 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 valued at $12,712,000 after purchasing an additional 6,089 shares in the last quarter. Finally, Indiana Trust & Investment Management Co bought a new position in shares of Laboratory Co. of America during the third quarter valued at about $136,000. 95.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of 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. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Bank of America upped their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird upped their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group upped their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three investment 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $265.31.

About Laboratory Co. of America

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