Laboratory Co. of America Holdings (NYSE:LH) CAO Peter J. Wilkinson Sells 829 Shares

Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) CAO Peter J. Wilkinson sold 829 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total transaction of $200,833.54. Following the transaction, the chief accounting officer now owns 2,054 shares of the company's stock, valued at $497,602.04. This trade represents a 28.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Laboratory Co. of America Price Performance

LH stock traded up $6.35 during trading hours on Thursday, hitting $252.25. 209,984 shares of the stock traded hands, compared to its average volume of 637,762. The company has a market cap of $21.11 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.71 and a beta of 0.82. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $265.00. 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 stock has a 50-day simple moving average of $234.00 and a 200 day simple moving average of $236.45.

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

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.14%. Laboratory Co. of America's payout ratio is 33.29%.

Hedge Funds Weigh In On Laboratory Co. of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LH. Empowered Funds LLC grew its position in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock valued at $1,840,000 after acquiring an additional 43 shares during the period. SP Asset Management LLC boosted its stake in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock valued at $3,483,000 after acquiring an additional 43 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Laboratory Co. of America by 5.0% during the first quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock worth $204,000 after purchasing an additional 44 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Laboratory Co. of America by 0.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock valued at $2,931,000 after acquiring an additional 45 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock worth $1,650,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Wall Street Analyst Weigh In

LH has been the subject of several recent research reports. UBS Group decreased their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Jefferies Financial Group boosted 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 report on Thursday, February 6th. Truist Financial decreased their price target on shares of Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a report on Friday, April 11th. StockNews.com lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and increased their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $269.38.

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.