Recent Research Analysts’ Ratings Changes for Laboratory Co. of America (LH)

A number of research firms have changed their ratings and price targets for Laboratory Co. of America (NYSE: LH):

• 10/1/2024 – Laboratory Co. of America is now covered by analysts at Piper Sandler. They set a “neutral” rating and a $235.00 price target on the stock.
• 9/24/2024 – Laboratory Co. of America had its price target lowered by analysts at Evercore ISI from $250.00 to $240.00. They now have an “in-line” rating on the stock.
• 9/23/2024 – Laboratory Co. of America had its price target raised by analysts at Jefferies Financial Group Inc. from $245.00 to $265.00. They now have a “buy” rating on the stock.
• 9/20/2024 – Laboratory Co. of America had its price target raised by analysts at Robert W. Baird from $278.00 to $282.00. They now have an “outperform” rating on the stock.
• 8/20/2024 – Laboratory Co. of America was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/9/2024 – Laboratory Co. of America was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/5/2024 – Laboratory Co. of America had its price target raised by analysts at Bank of America Co. from $240.00 to $260.00. They now have a “buy” rating on the stock.

Laboratory Co. of America Stock Down 0.1 %

Shares of NYSE LH opened at $219.00 on Thursday. The stock has a market cap of $18.46 billion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 1.74 and a beta of 1.06. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $238.46. The business has a 50-day moving average price of $224.17 and a 200 day moving average price of $211.85.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.42 EPS. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.61 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.32%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total value of $131,850.00. Following the sale, the director now directly owns 14,722 shares of the company’s stock, valued at $3,312,450. The disclosure for this sale can be found here. Insiders sold a total of 29,679 shares of company stock valued at $6,716,306 in the last three months. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Laboratory Co. of America

A number of large investors have recently modified their holdings of the business. Weybosset Research & Management LLC purchased a new position in shares of Laboratory Co. of America during the 3rd quarter worth approximately $8,816,000. Jacobs & Co. CA raised its stake in shares of Laboratory Co. of America by 2.2% during the 3rd quarter. Jacobs & Co. CA now owns 25,193 shares of the medical research company’s stock worth $5,630,000 after buying an additional 550 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $2,268,000. Delphi Management Inc. MA increased its stake in Laboratory Co. of America by 134.9% in the 2nd quarter. Delphi Management Inc. MA now owns 8,246 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 4,736 shares in the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new position in Laboratory Co. of America in the 2nd quarter valued at approximately $1,318,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).