Laboratory Co. of America Holdings (NYSE:LH) EVP Brian J. Caveney Sells 2,000 Shares

Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) EVP Brian J. Caveney sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total transaction of $494,000.00. Following the completion of the transaction, the executive vice president now owns 30,067 shares of the company's stock, valued at $7,426,549. The trade was a 6.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Laboratory Co. of America Trading Up 0.7%

LH traded up $1.77 during trading on Friday, reaching $253.92. 442,869 shares of the company's stock were exchanged, compared to its average volume of 636,661. Laboratory Co. of America Holdings has a one year low of $192.38 and a one year high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average price of $236.87 and a two-hundred day moving average price of $238.69. The stock has a market capitalization of $21.25 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Laboratory Co. of America's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.68 earnings per share. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.13%. Laboratory Co. of America's dividend payout ratio is presently 33.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LH shares. Redburn Atlantic started coverage on shares of Laboratory Co. of America in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price for the company. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Piper Sandler restated a "neutral" rating and issued a $280.00 target price (up from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Jefferies Financial Group upped their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Truist Financial upped their price objective on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $272.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Graney & King LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter valued at about $26,000. Golden State Wealth Management LLC raised its position in Laboratory Co. of America by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after acquiring an additional 52 shares during the period. North Capital Inc. bought a new stake in Laboratory Co. of America in the first quarter worth about $27,000. TruNorth Capital Management LLC purchased a new position in shares of Laboratory Co. of America in the first quarter worth about $28,000. Finally, Larson Financial Group LLC increased its stake in shares of Laboratory Co. of America by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock worth $29,000 after purchasing an additional 73 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Company Profile

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