Laboratory Co. of America (NYSE:LH) Upgraded at StockNews.com

StockNews.com upgraded shares of Laboratory Co. of America (NYSE:LH) from a hold rating to a buy rating in a research note published on Sunday morning.

LH has been the topic of a number of other reports. Piper Sandler increased their price objective 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. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Jefferies Financial Group upped their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price objective for the company. Finally, 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 report on Friday, December 13th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $270.38.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $217.34 on Friday. The stock has a market capitalization of $18.19 billion, a PE ratio of 24.64, a P/E/G ratio of 1.71 and a beta of 0.99. The company has a fifty day moving average of $241.90 and a two-hundred day moving average of $234.79. Laboratory Co. of America has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

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

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the sale, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This trade represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,258 shares of company stock worth $3,518,177 in the last ninety days. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Laboratory Co. of America

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Graney & King LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at $26,000. Fortitude Family Office LLC boosted its position in 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 worth $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. grew its position in Laboratory Co. of America by 309.8% during 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 acquired a new stake in shares of Laboratory Co. of America during the 4th quarter valued at $39,000. Finally, Heck Capital Advisors LLC acquired a new stake in Laboratory Co. of America during the fourth quarter valued at $44,000. 95.94% of the stock is 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.