Laboratory Co. of America Holdings (NYSE:LH – Get Rating) CAO Peter J. Wilkinson sold 2,576 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $258.40, for a total value of $665,638.40. Following the sale, the chief accounting officer now directly owns 1,887 shares of the company’s stock, valued at $487,600.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Laboratory Co. of America Stock Performance
NYSE:LH opened at $252.39 on Friday. The business has a 50 day moving average of $241.18 and a 200 day moving average of $256.55. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 12.08 and a beta of 1.03. Laboratory Co. of America Holdings has a 1-year low of $212.40 and a 1-year high of $317.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.90 and a quick ratio of 1.74.
Laboratory Co. of America (NYSE:LH – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The medical research company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.60 by $0.35. Laboratory Co. of America had a return on equity of 22.39% and a net margin of 12.67%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the company posted $6.13 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 20.15 earnings per share for the current fiscal year.
Laboratory Co. of America Announces Dividend
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Truist Financial decreased their price objective on Laboratory Co. of America from $350.00 to $320.00 in a report on Friday, April 29th. Morgan Stanley reduced their target price on Laboratory Co. of America from $360.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, May 25th. Robert W. Baird lifted their target price on Laboratory Co. of America from $295.00 to $297.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company reduced their target price on Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Finally, Mizuho reduced their target price on Laboratory Co. of America from $354.00 to $323.00 in a report on Wednesday, May 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $299.75.
Hedge Funds Weigh In On Laboratory Co. of America
Several hedge funds have recently made changes to their positions in LH. MCF Advisors LLC purchased a new position in shares of Laboratory Co. of America during the first quarter valued at approximately $25,000. Tcwp LLC purchased a new stake in Laboratory Co. of America in the first quarter worth $26,000. Washington Trust Advisors Inc. grew its stake in Laboratory Co. of America by 352.2% in the first quarter. Washington Trust Advisors Inc. now owns 104 shares of the medical research company’s stock worth $27,000 after purchasing an additional 81 shares during the period. WFA of San Diego LLC purchased a new stake in Laboratory Co. of America in the second quarter worth $30,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Laboratory Co. of America in the fourth quarter worth $31,000. 92.02% of the stock is owned by hedge funds and other institutional investors.
About Laboratory Co. of America
Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.
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