Short Interest in Laboratory Co. of America Holdings (NYSE:LH) Expands By 34.4%

Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,540,000 shares, a growth of 34.4% from the March 31st total of 1,890,000 shares. Currently, 3.1% of the shares of the company are short sold. Based on an average trading volume of 722,500 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Upgrades and Downgrades

LH has been the topic of several analyst reports. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target on the stock. Truist Financial lowered their target price on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Robert W. Baird upped their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a research report on Wednesday. Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Finally, Citigroup raised shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and increased their target price for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $267.85.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock traded up $6.61 on Friday, hitting $247.89. 854,928 shares of the company traded hands, compared to its average volume of 638,815. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The business has a 50-day simple moving average of $234.29 and a 200 day simple moving average of $235.83. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week high of $258.59. The stock has a market capitalization of $20.74 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced 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. The business had revenue of $3.35 billion for 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%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.68 EPS. Research analysts expect that Laboratory Co. of America will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.16%. Laboratory Co. of America's dividend payout ratio is presently 33.29%.

Insider Transactions at Laboratory Co. of America

In other news, EVP Amy B. Summy sold 758 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the sale, the executive vice president now owns 5,302 shares of the company's stock, valued at $1,228,314.34. This represents a 12.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock worth $3,518,177 over the last three months. 0.84% of the stock is currently owned by company insiders.

Institutional Trading of Laboratory Co. of America

A number of large investors have recently added to or reduced their stakes in the company. Capital City Trust Co. FL increased its position in Laboratory Co. of America by 1.5% in the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock worth $3,567,000 after purchasing an additional 223 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Laboratory Co. of America by 23.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company's stock worth $583,000 after buying an additional 490 shares during the last quarter. Bryn Mawr Capital Management LLC raised its position in shares of Laboratory Co. of America by 51.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company's stock valued at $343,000 after buying an additional 506 shares in the last quarter. Barclays PLC lifted its holdings in shares of Laboratory Co. of America by 11.8% in the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock valued at $138,718,000 after acquiring an additional 65,356 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Laboratory Co. of America by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company's stock worth $243,321,000 after acquiring an additional 68,974 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

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.

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