Laboratory Co. of America Holdings (NYSE:LH) Receives $268.38 Average Price Target from Analysts

Laboratory Co. of America Holdings (NYSE:LH) has been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $268.38.

A number of research analysts have weighed in on the stock. Barclays reduced their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Piper Sandler boosted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. UBS Group lowered their target price on 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. Finally, Morgan Stanley boosted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th.

Laboratory Co. of America Stock Down 0.4 %

Shares of NYSE LH opened at $253.00 on Wednesday. The stock has a market capitalization of $21.18 billion, a PE ratio of 28.68, a P/E/G ratio of 1.71 and a beta of 1.07. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average of $243.68 and a 200-day moving average of $233.67. Laboratory Co. of America has a 52-week low of $191.97 and a 52-week high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping the consensus estimate 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%. On average, analysts anticipate that Laboratory Co. of America will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Activity

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,339 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the sale, the chief operating officer now directly owns 4,960 shares of the company’s stock, valued at approximately $1,236,180.80. This represents a 51.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,500 shares of company stock worth $3,577,572. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Laboratory Co. of America

A number of large investors have recently bought and sold shares of LH. Private Trust Co. NA boosted its position in shares of Laboratory Co. of America by 3.2% in the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after buying an additional 41 shares during the period. Empowered Funds LLC lifted its stake in Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after acquiring an additional 43 shares in the last quarter. SP Asset Management LLC lifted its stake in Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after acquiring an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Laboratory Co. of America by 0.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after acquiring an additional 45 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in Laboratory Co. of America by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock valued at $1,650,000 after acquiring an additional 46 shares in the last quarter. 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.