UBS Group Issues Pessimistic Forecast for Laboratory Co. of America (NYSE:LH) Stock Price

Laboratory Co. of America (NYSE:LH) had its price target reduced by UBS Group from $293.00 to $286.00 in a research note published on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the medical research company’s stock.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. 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 research note on Tuesday, December 10th. Bank of America raised their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $261.77.

Laboratory Co. of America Stock Up 2.1 %

LH opened at $251.39 on Tuesday. Laboratory Co. of America has a twelve month low of $191.97 and a twelve month high of $258.59. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.81 and a beta of 1.06. The firm’s 50-day simple moving average is $235.60 and its 200-day simple moving average is $228.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Amy B. Summy sold 3,672 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the sale, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. This trade represents a 45.96 % 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 company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Laboratory Co. of America by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after buying an additional 263,105 shares during the last quarter. FMR LLC raised its holdings in Laboratory Co. of America by 17.0% during the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after acquiring an additional 230,708 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after purchasing an additional 167,137 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Laboratory Co. of America by 22.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company’s stock worth $128,990,000 after purchasing an additional 105,443 shares during the last quarter. Finally, River Road Asset Management LLC raised its stake in shares of Laboratory Co. of America by 37.8% during the 3rd quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock worth $63,490,000 after purchasing an additional 77,921 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.