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

Laboratory Co. of America Holdings (NYSE:LH) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $268.77.

Several brokerages have recently issued reports on LH. Jefferies Financial Group raised their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Truist Financial decreased their price objective on Laboratory Co. of America from $285.00 to $274.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Redburn Atlantic began coverage on Laboratory Co. of America in a report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price objective for the company.

Laboratory Co. of America Trading Up 0.9 %

Shares of Laboratory Co. of America stock opened at $230.45 on Thursday. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $258.59. The firm has a market cap of $19.28 billion, a PE ratio of 26.13, a P/E/G ratio of 1.71 and a beta of 0.99. The stock has a fifty day moving average price of $234.95 and a 200-day moving average price of $235.38. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

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%. Equities research analysts anticipate that Laboratory Co. of America will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

Insider Activity

In other news, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction 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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Amy B. Summy sold 226 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the sale, the chief marketing officer now owns 4,544 shares in the company, 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. In the last quarter, insiders have sold 14,258 shares of company stock worth $3,518,177. 0.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Laboratory Co. of America

Institutional investors and hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC grew its holdings in Laboratory Co. of America by 88.1% in the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after acquiring an additional 52 shares during the last quarter. Graney & King LLC bought a new stake in Laboratory Co. of America in the 4th quarter worth $26,000. North Capital Inc. bought a new stake in Laboratory Co. of America in the 1st quarter worth $27,000. Fortitude Family Office LLC grew its holdings 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 worth $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Garde Capital Inc. bought a new stake in Laboratory Co. of America in the 1st quarter worth $36,000. 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.