Laboratory Co. of America (NYSE:LH) Stock Price Expected to Rise, Piper Sandler Analyst Says

Laboratory Co. of America (NYSE:LH) had its price objective hoisted by Piper Sandler from $240.00 to $260.00 in a research note released on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the medical research company’s stock.

LH has been the subject of several other reports. Robert W. Baird lifted their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Bank of America upped their price target on shares of 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 target 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. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.31.

Laboratory Co. of America Price Performance

NYSE LH opened at $241.05 on Monday. The company has a market cap of $20.16 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The stock’s fifty day moving average price is $236.85 and its 200 day moving average price is $230.48. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, equities research analysts forecast that Laboratory Co. of America will post 15.96 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared 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. This represents a $2.88 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is presently 32.65%.

Insiders Place Their Bets

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction that occurred 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 of the company’s stock, valued at $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the sale, the executive vice president now owns 2,670 shares of the company’s stock, valued at $639,251.40. The trade was a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,383 shares of company stock worth $4,408,373. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

A number of large investors have recently modified their holdings of the business. Graney & King LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter worth about $26,000. SouthState Corp acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America in the 3rd quarter worth approximately $29,000. Fortitude Family Office LLC boosted its holdings in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors 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.