Barclays Forecasts Strong Price Appreciation for Laboratory Co. of America (NYSE:LH) Stock

Laboratory Co. of America (NYSE:LH) had its price objective boosted by stock analysts at Barclays from $249.00 to $271.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price objective would suggest a potential upside of 9.13% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group reissued a “buy” rating and issued a $275.00 price objective (up previously from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. Bank of America boosted their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Piper Sandler raised their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, Robert W. Baird upped their price target on 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. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $263.46.

Laboratory Co. of America Stock Performance

LH stock traded down $1.48 on Monday, hitting $248.32. The company had a trading volume of 173,020 shares, compared to its average volume of 552,120. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America has a 12-month low of $191.97 and a 12-month high of $258.59. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 48.00, a P/E/G ratio of 1.86 and a beta of 1.07. The stock’s 50-day simple moving average is $236.02 and its 200 day simple moving average is $228.72.

Insider Transactions at Laboratory Co. of America

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

Hedge Funds Weigh In On Laboratory Co. of America

A number of institutional investors and hedge funds have recently made changes to their positions in LH. SouthState Corp purchased a new position in Laboratory Co. of America during the third quarter worth $28,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $29,000. Fortitude Family Office LLC boosted its stake in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Riverview Trust Co grew its holdings in 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 valued at $38,000 after purchasing an additional 107 shares during the last quarter. Finally, Concord Wealth Partners raised its position in Laboratory Co. of America by 43.3% in the 3rd 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. 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.