Laboratory Co. of America Holdings (NYSE:LH) Receives $260.54 Consensus PT from Analysts

Shares of Laboratory Co. of America Holdings (NYSE:LH) have received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $260.54.

A number of equities analysts recently weighed in on the stock. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Bank of America lifted their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th.

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares in the company, valued at approximately $21,289,260.27. 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, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,572 shares of company stock worth $6,145,209. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

A number of institutional investors have recently made changes to their positions in LH. Private Trust Co. NA lifted its holdings in Laboratory Co. of America by 3.2% during the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after purchasing an additional 41 shares during the last quarter. Empirical Finance LLC increased its position in Laboratory Co. of America by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after buying an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Laboratory Co. of America by 16.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after buying an additional 50 shares in the last quarter. Concord Wealth Partners boosted its position in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 52 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in shares of Laboratory Co. of America by 1.9% in the third quarter. Rehmann Capital Advisory Group now owns 2,844 shares of the medical research company’s stock valued at $637,000 after acquiring an additional 53 shares during the period. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.1 %

NYSE:LH opened at $238.44 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The business’s 50-day simple moving average is $234.80 and its 200-day simple moving average is $225.76. Laboratory Co. of America has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The stock has a market capitalization of $19.94 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.38 earnings per share. Sell-side analysts expect that Laboratory Co. of America will post 14.51 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.21%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

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.