Laboratory Co. of America (NYSE:LH) Price Target Raised to $260.00

Laboratory Co. of America (NYSE:LH) had its target price hoisted by Piper Sandler from $240.00 to $260.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

A number of other research firms have also weighed in on LH. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their target price for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Bank of America lifted their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group upped their target price 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. UBS Group dropped their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.31.

Laboratory Co. of America Stock Performance

Shares of NYSE LH opened at $241.05 on Monday. The firm’s fifty day moving average is $236.85 and its two-hundred day moving average is $230.48. Laboratory Co. of America has a 52-week low of $191.97 and a 52-week high of $258.59. The company has a market cap of $20.16 billion, a P/E ratio of 27.33, a P/E/G ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. As a group, analysts anticipate that Laboratory Co. of America will post 15.96 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. Laboratory Co. of America’s payout ratio is 32.65%.

Insider Activity

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at $7,522,814.27. The trade was a 27.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the transaction, the executive vice president now directly owns 2,670 shares in the company, valued at $639,251.40. The trade was a 27.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,383 shares of company stock valued at $4,408,373. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Laboratory Co. of America

A number of hedge funds have recently added to or reduced their stakes in the business. Graney & King LLC purchased a new stake in Laboratory Co. of America during the fourth quarter worth $26,000. SouthState Corp purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN bought a new stake in Laboratory Co. of America during the third quarter valued at about $29,000. Fortitude Family Office LLC grew its stake in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Finally, Riverview Trust Co raised its holdings in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

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.