Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Laboratory Corp. Of America Holdings shares valued at $1,407,387 were sold by Schroeder Mark S on Apr 01 ’24. At $217.29 per share, Schroeder Mark S sold 6,477 shares. The insider’s holdings dropped to 5,036 shares worth approximately $1.05 million following the completion of this transaction.
Also, Summy Amy B. sold 3,500 shares, netting a total of over 760,515 in proceeds. Following the sale of shares at $217.29 each, the insider now holds 3,975 shares.
Before that, van der Vaart Sandra D had sold 3,553 shares from its account. In a trade valued at $770,077, the EVP, Chief Legal Officer traded Laboratory Corp. Of America Holdings shares for $216.74 each. Upon closing the transaction, the insider’s holdings decreased to 3,553 shares, worth approximately $1.59 million.
As published in a research note from Argus on March 25, 2024, Laboratory Corp. Of America Holdings [LH] has been rated up from a Hold to a Buy and the price target has been revised to $250. Analysts at Leerink Partners started covering the stock with ‘”an Outperform”‘ outlook in a report released in late February. As of February 09, 2024, Evercore ISI has initiated its “an In-line” rating for LH. Earlier on January 03, 2024, Barclays initiated its rating. Their recommendation was “an Equal weight” for LH stock.
Analyzing LH Stock Performance
During the last five days, there has been a surge of approximately 3.99%. Over the course of the year, Laboratory Corp. Of America Holdings shares have dropped approximately -8.51%. Shares of the company reached a 52-week high of $234.09 on 01/02/24 and a 52-week low of $198.06 on 04/18/24. A 50-day SMA is recorded $212.86, while a 200-day SMA reached $213.20. Nevertheless, trading volume fell to 0.79 million shares from 0.93 million shares the previous day.
Support And Resistance Levels for Laboratory Corp. Of America Holdings (LH)
According to the 24-hour chart, there is a support level at 206.27, which, if violated, would cause prices to drop to 204.61. In the upper region, resistance lies at 208.87. The next price resistance is at 209.81. RSI (Relative Strength Index) is 48.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.90, which suggests the price will decrease in the coming days. Percent R is at 32.44%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
