Laboratory Co. of America Holdings (NYSE:LH) Receives $263.77 Consensus PT from Brokerages

Laboratory Co. of America Holdings (NYSE:LH) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $265.31.

Several equities analysts have issued reports on the company. Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday. Bank of America lifted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Morgan Stanley increased their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Jefferies Financial Group boosted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, UBS Group decreased their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th.

Laboratory Co. of America Stock Down 0.5 %

Shares of NYSE:LH opened at $245.14 on Friday. The company has a market capitalization of $20.50 billion, a PE ratio of 27.79, a P/E/G ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company’s fifty day moving average is $236.67 and its 200-day moving average is $229.99. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Equities research analysts predict that Laboratory Co. of America will post 15.96 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,383 shares of company stock worth $4,408,373. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Several institutional investors and hedge funds have recently modified their holdings of the business. Generali Asset Management SPA SGR acquired a new position in Laboratory Co. of America in the 4th quarter worth $5,847,000. Tocqueville Asset Management L.P. lifted its holdings in shares of Laboratory Co. of America by 96.4% in the fourth quarter. Tocqueville Asset Management L.P. now owns 22,070 shares of the medical research company’s stock valued at $5,061,000 after purchasing an additional 10,834 shares in the last quarter. Signaturefd LLC boosted its position in shares of Laboratory Co. of America by 9.7% during the fourth quarter. Signaturefd LLC now owns 588 shares of the medical research company’s stock worth $135,000 after buying an additional 52 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Laboratory Co. of America by 5.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,069 shares of the medical research company’s stock worth $2,309,000 after buying an additional 525 shares in the last quarter. Finally, Choate Investment Advisors raised its position in Laboratory Co. of America by 7.9% in the 4th quarter. Choate Investment Advisors now owns 1,341 shares of the medical research company’s stock valued at $308,000 after buying an additional 98 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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.