UBS Group Has Lowered Expectations for Laboratory Co. of America (NYSE:LH) Stock Price

Laboratory Co. of America (NYSE:LH) had its price target decreased by UBS Group from $293.00 to $286.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. UBS Group’s price target suggests a potential upside of 16.09% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Morgan Stanley upped their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. 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 note on Friday, December 13th. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Four investment 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. Based on data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $261.77.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $246.36 on Tuesday. The company has a market capitalization of $20.61 billion, a P/E ratio of 47.65, a P/E/G ratio of 1.81 and a beta of 1.06. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $250.56. The firm’s 50 day simple moving average is $235.43 and its two-hundred day simple moving average is $227.96. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This represents a 6.61 % 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, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,572 shares of company stock worth $5,915,209. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Large investors have recently added to or reduced their stakes in the company. Private Trust Co. NA raised its stake in shares of 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 acquiring an additional 41 shares in the last quarter. Empowered Funds LLC increased its position in shares of Laboratory Co. of America by 0.5% during the fourth 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 in the last quarter. Empirical Finance LLC lifted its holdings in shares of 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 valued at $683,000 after purchasing an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Laboratory Co. of America by 16.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after purchasing an additional 50 shares in the last quarter. Finally, Concord Wealth Partners grew its stake in Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares during the last quarter. 95.94% of the stock is currently owned by 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.