Laboratory Co. of America (NYSE:LH) Price Target Cut to $286.00 by Analysts at UBS Group

Laboratory Co. of America (NYSE:LH) had its target price cut by equities researchers at UBS Group from $293.00 to $286.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. UBS Group’s target price points to a potential upside of 14.73% from the company’s current price.

Several other research firms have also issued reports on LH. Robert W. Baird raised their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays raised their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America increased their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.77.

Laboratory Co. of America Price Performance

NYSE LH opened at $249.29 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a 50-day simple moving average of $234.97 and a 200 day simple moving average of $227.36. The stock has a market capitalization of $20.85 billion, a PE ratio of 48.27, a P/E/G ratio of 1.81 and a beta of 1.06. Laboratory Co. of America has a twelve month low of $191.97 and a twelve month high of $250.56.

Insider Buying and Selling

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the sale, the executive vice president now directly owns 2,670 shares in the company, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock worth $5,915,209 in the last quarter. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Several hedge funds have recently modified their holdings of the stock. SouthState Corp bought a new stake in Laboratory Co. of America during the third quarter worth about $28,000. Horizon Bancorp Inc. IN bought a new stake in Laboratory Co. of America during the third quarter worth $29,000. Fortitude Family Office LLC lifted 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 acquiring an additional 100 shares during the last quarter. Riverview Trust Co increased its stake in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares during the period. Institutional investors own 95.94% of the company’s stock.

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.