Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson Sells 250 Shares of Stock

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 250 shares of Laboratory Co. of America stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the completion of the transaction, the director now owns 15,722 shares of the company’s stock, valued at approximately $3,145,972.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Laboratory Co. of America Trading Down 0.5 %

NYSE:LH opened at $200.25 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The firm has a market cap of $16.88 billion, a P/E ratio of 40.29, a PEG ratio of 1.51 and a beta of 1.02. The stock’s 50 day simple moving average is $210.48 and its 200-day simple moving average is $214.70.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.82 earnings per share. Equities analysts anticipate that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.44%. Laboratory Co. of America’s payout ratio is 57.95%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird decreased their price objective on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Truist Financial cut their target price on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Finally, Evercore ISI initiated coverage on Laboratory Co. of America in a research report on Friday, February 9th. They set an “in-line” rating and a $240.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.14.

Hedge Funds Weigh In On Laboratory Co. of America

A number of institutional investors have recently made changes to their positions in LH. Norges Bank acquired a new position in Laboratory Co. of America in the fourth quarter valued at $291,045,000. Morgan Stanley increased its stake in Laboratory Co. of America by 102.6% in the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after purchasing an additional 1,123,755 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Laboratory Co. of America by 644.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock valued at $257,522,000 after purchasing an additional 1,108,776 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Laboratory Co. of America by 3,836.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 806,975 shares of the medical research company’s stock worth $162,243,000 after acquiring an additional 786,477 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in Laboratory Co. of America by 28.0% during the third quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock worth $444,821,000 after acquiring an additional 483,878 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

About Laboratory Co. of America

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).