Analysts Set Laboratory Co. of America Holdings (NYSE:LH) Target Price at $268.38

Shares of Laboratory Co. of America Holdings (NYSE:LH) have been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $268.38.

LH has been the subject of a number of analyst reports. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Morgan Stanley upped their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler raised their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Jefferies Financial Group upped their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th.

Laboratory Co. of America Trading Down 1.9 %

LH opened at $239.44 on Wednesday. The firm’s 50 day moving average is $244.18 and its 200-day moving average is $233.91. Laboratory Co. of America has a 52-week low of $191.97 and a 52-week high of $258.59. 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 firm has a market capitalization of $20.04 billion, a P/E ratio of 27.15, a P/E/G ratio of 1.71 and a beta of 1.12.

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 net margin of 5.73% and a return on equity of 15.29%. Analysts expect that Laboratory Co. of America will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.20%. Laboratory Co. of America’s payout ratio is currently 32.65%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,339 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $249.23, for a total value of $1,330,638.97. Following the completion of the transaction, the chief operating officer now owns 4,960 shares in the company, valued at approximately $1,236,180.80. This represents a 51.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,500 shares of company stock worth $3,577,572. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Laboratory Co. of America

Several large investors have recently added to or reduced their stakes in LH. Graney & King LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter valued at $26,000. SouthState Corp acquired a new stake in Laboratory Co. of America in the third quarter worth about $28,000. Fortitude Family Office LLC grew its position in Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares during the period. Finally, Human Investing LLC bought a new stake in shares of Laboratory Co. of America during the 4th quarter worth about $39,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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.