Laboratory Co. of America Holdings (NYSE:LH) Receives $268.77 Consensus Target Price from Brokerages

Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) has received a consensus rating of "Moderate Buy" from the fifteen research firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $268.77.

LH has been the topic of several research analyst reports. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and upped their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays lowered their target price on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. StockNews.com cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Piper Sandler upped their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 10th.

Laboratory Co. of America Stock Up 4.6 %

Shares of LH stock traded up $10.58 during mid-day trading on Thursday, reaching $240.18. 2,268,353 shares of the company's stock traded hands, compared to its average volume of 637,120. 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 cap of $20.10 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.71 and a beta of 0.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company's 50-day moving average price is $234.77 and its 200-day moving average price is $235.41.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.73 by $0.11. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.68 EPS. On average, equities analysts expect that Laboratory Co. of America will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.20%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares of the company's stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares of the company's stock, valued at approximately $1,228,314.34. This represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,258 shares of company stock worth $3,518,177. Insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Laboratory Co. of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC lifted its holdings in Laboratory Co. of America by 8.2% during the 1st quarter. TD Private Client Wealth LLC now owns 5,011 shares of the medical research company's stock valued at $1,166,000 after buying an additional 379 shares in the last quarter. McGlone Suttner Wealth Management Inc. boosted its position in Laboratory Co. of America by 14.7% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 1,000 shares of the medical research company's stock valued at $233,000 after acquiring an additional 128 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Laboratory Co. of America in the 1st quarter worth $434,000. Wayfinding Financial LLC acquired a new stake in shares of Laboratory Co. of America in the 1st quarter worth $79,000. Finally, Eukles Asset Management boosted its position in shares of Laboratory Co. of America by 1.4% in the 1st quarter. Eukles Asset Management now owns 17,105 shares of the medical research company's stock worth $3,981,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

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.