Barclays Issues Pessimistic Forecast for Laboratory Co. of America (NYSE:LH) Stock Price

Laboratory Co. of America (NYSE:LH) had its price objective cut by Barclays from $260.00 to $240.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s target price suggests a potential upside of 7.52% from the stock’s current price.

Other analysts have also recently issued research reports about the company. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Sunday. UBS Group dropped their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective for the company. Bank of America increased their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Morgan Stanley increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $268.85.

Laboratory Co. of America Stock Down 3.2 %

NYSE:LH traded down $7.27 during midday trading on Thursday, reaching $223.21. 220,095 shares of the stock traded hands, compared to its average volume of 631,693. The business has a 50-day moving average of $241.12 and a two-hundred day moving average of $234.80. 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 has a 12-month low of $191.97 and a 12-month high of $258.59. The stock has a market capitalization of $18.68 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

Laboratory Co. of America (NYSE:LH) last announced 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 return on equity of 15.29% and a net margin of 5.73%. On average, equities analysts forecast that Laboratory Co. of America will post 16.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction 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 $1,137,817.60. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction dated 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 approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,258 shares of company stock worth $3,518,177 in the last three months. 0.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Laboratory Co. of America

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Merit Financial Group LLC lifted its stake in Laboratory Co. of America by 23.0% during the first quarter. Merit Financial Group LLC now owns 3,414 shares of the medical research company’s stock worth $795,000 after purchasing an additional 639 shares in the last quarter. NBC Securities Inc. acquired a new position in Laboratory Co. of America during the 1st quarter worth about $130,000. American National Bank & Trust boosted its holdings in Laboratory Co. of America by 2.2% during the 1st quarter. American National Bank & Trust now owns 49,251 shares of the medical research company’s stock valued at $11,463,000 after acquiring an additional 1,082 shares during the period. Czech National Bank increased its stake in Laboratory Co. of America by 5.6% during the first quarter. Czech National Bank now owns 19,155 shares of the medical research company’s stock worth $4,458,000 after purchasing an additional 1,020 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Laboratory Co. of America by 8.7% during the first quarter. Rhumbline Advisers now owns 155,368 shares of the medical research company’s stock worth $36,160,000 after purchasing an additional 12,433 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

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.