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

Laboratory Co. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 250 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total transaction of $50,025.00. Following the sale, the director now owns 15,722 shares in the company, valued at approximately $3,145,972.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Laboratory Co. of America Price Performance

Shares of LH opened at $201.32 on Friday. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The stock has a fifty day moving average price of $210.48 and a 200 day moving average price of $214.70. The company has a market cap of $16.97 billion, a P/E ratio of 40.51, a PEG ratio of 1.51 and a beta of 1.02.

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

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders 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 annualized dividend and a dividend yield of 1.43%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial cut their price objective on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 26th. SVB Leerink assumed coverage on Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target for the company. Barclays cut their target price on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” 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, Robert W. Baird cut their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

Institutional Trading of Laboratory Co. of America

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Laboratory Co. of America by 20.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock worth $500,033,000 after buying an additional 424,684 shares in the last quarter. Morgan Stanley increased its stake in shares of Laboratory Co. of America by 102.6% during the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after acquiring an additional 1,123,755 shares during the period. Lazard Asset Management LLC lifted its position in Laboratory Co. of America by 28.0% in 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 purchasing an additional 483,878 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Laboratory Co. of America by 58.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after purchasing an additional 597,571 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Laboratory Co. of America by 644.2% during the 3rd 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 period. 95.94% of the stock is currently 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).