Laboratory Co. of America (NYSE:LH) Upgraded by StockNews.com to “Buy” Rating

Laboratory Co. of America (NYSE:LH) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other analysts have also commented on the company. Bank of America boosted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler boosted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Robert W. Baird boosted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley boosted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $263.77.

Laboratory Co. of America Stock Down 0.6 %

Laboratory Co. of America stock traded down $1.56 during midday trading on Friday, reaching $246.18. The stock had a trading volume of 588,360 shares, compared to its average volume of 613,994. Laboratory Co. of America has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a market capitalization of $20.59 billion, a P/E ratio of 47.62, a PEG ratio of 1.86 and a beta of 1.07. The company has a fifty day moving average price of $236.56 and a two-hundred day moving average price of $229.47. 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 (NYSE:LH) last issued its quarterly earnings data 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 15.27% and a net margin of 3.43%. As a group, equities analysts expect that Laboratory Co. of America will post 14.51 EPS for the current fiscal year.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, Director Dwight Gary Gilliland sold 1,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $241.00, for a total transaction of $241,000.00. Following the completion of the sale, the director now directly owns 7,712 shares in the company, valued at $1,858,592. This represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock valued at $5,915,209 over the last 90 days. 0.85% of the stock is owned by insiders.

Institutional Trading of Laboratory Co. of America

A number of institutional investors have recently modified their holdings of the company. SouthState Corp purchased a new stake in Laboratory Co. of America in the third quarter worth about $28,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America during the third quarter valued at approximately $29,000. Fortitude Family Office LLC increased its position in shares of Laboratory Co. of America by 312.5% during 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 in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 127 shares in the last quarter. Finally, Riverview Trust Co grew its position in Laboratory Co. of America by 172.6% in 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 period. 95.94% of the stock is currently 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.