Brokerages Set Laboratory Co. of America Holdings (NYSE:LH) Price Target at $269.92

Laboratory Co. of America Holdings (NYSE:LH) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $270.38.

LH has been the subject of a number of research analyst reports. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Piper Sandler raised their price target 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. Jefferies Financial Group upped their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Morgan Stanley raised their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,339 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 4,960 shares of the company’s stock, valued at $1,236,180.80. This trade represents a 51.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the completion of the transaction, the director now directly owns 13,166 shares in the company, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,258 shares of company stock valued at $3,753,177 over the last ninety days. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LH. Graney & King LLC bought a new position in Laboratory Co. of America during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC boosted its position 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 valued at $30,000 after acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth $39,000. Finally, True Wealth Design LLC raised its stake in Laboratory Co. of America by 3,660.0% during the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 4.7 %

LH stock opened at $222.49 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $258.59. The stock has a market capitalization of $18.62 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.71 and a beta of 1.12. The business has a fifty day moving average price of $243.63 and a 200-day moving average price of $234.90.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Equities analysts forecast that Laboratory Co. of America will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

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.