Laboratory Co. of America (NYSE:LH) Research Coverage Started at Redburn Atlantic

Redburn Atlantic began coverage on shares of Laboratory Co. of America (NYSE:LH) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $276.00 price objective on the medical research company’s stock.

LH has been the topic of several other reports. UBS Group cut their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Bank of America upped their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Piper Sandler raised their target price on 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. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.38.

Laboratory Co. of America Trading Down 4.7 %

LH opened at $222.49 on Wednesday. The stock has a market cap of $18.62 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America has a twelve month low of $191.97 and a twelve month high of $258.59. The company has a fifty day moving average of $243.63 and a 200-day moving average of $234.84.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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%. On average, sell-side analysts predict that Laboratory Co. of America will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

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

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at $1,228,314.34. The trade was a 12.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the transaction, the executive vice president now owns 2,171 shares in the company, valued at $545,572.30. This represents a 37.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,258 shares of company stock worth $3,753,177 in the last quarter. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Laboratory Co. of America by 0.7% in the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after purchasing an additional 25,469 shares during the period. Geode Capital Management LLC lifted its position in Laboratory Co. of America by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company’s stock valued at $458,334,000 after buying an additional 39,255 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after buying an additional 167,137 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after buying an additional 51,045 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Laboratory Co. of America by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock worth $418,042,000 after acquiring an additional 41,898 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

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.