Laboratory Co. of America (NYSE:LH) Price Target Lowered to $286.00 at UBS Group

Laboratory Co. of America (NYSE:LH) had its price target reduced by UBS Group from $293.00 to $286.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Other research analysts also recently issued research reports about the stock. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Bank of America boosted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Morgan Stanley raised their price objective 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. Robert W. Baird boosted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Piper Sandler raised their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Four 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.77.

Laboratory Co. of America Stock Down 0.5 %

LH opened at $248.44 on Tuesday. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $250.56. The business has a 50 day moving average of $235.19 and a 200-day moving average of $227.66. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 48.05, a P/E/G ratio of 1.81 and a beta of 1.06. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the 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 sale, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. This represents a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $5,915,209 in the last three months. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

Several institutional investors have recently modified their holdings of LH. Kestra Private Wealth Services LLC boosted its stake in Laboratory Co. of America by 132.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 3,056 shares of the medical research company’s stock valued at $701,000 after acquiring an additional 1,742 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after purchasing an additional 43 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter worth $249,000. Cidel Asset Management Inc. bought a new stake in Laboratory Co. of America in the fourth quarter valued at about $205,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Laboratory Co. of America by 2.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,787 shares of the medical research company’s stock valued at $2,244,000 after buying an additional 249 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.