Brokerages Set Laboratory Co. of America Holdings (NYSE:LH) Price Target at $260.54

Shares of Laboratory Co. of America Holdings (NYSE:LH - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $260.54.

Several research firms have commented on LH. 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. Robert W. Baird increased their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, October 30th. Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and raised their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, Morgan Stanley lifted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th.

Laboratory Co. of America Stock Performance

Shares of NYSE LH traded up $0.45 during midday trading on Tuesday, hitting $234.55. The company's stock had a trading volume of 569,298 shares, compared to its average volume of 550,012. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $247.99. The firm's fifty day moving average price is $234.73 and its 200-day moving average price is $224.96. The firm has a market cap of $19.62 billion, a P/E ratio of 45.37, a P/E/G ratio of 1.91 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts' consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the prior year, the firm earned $3.38 EPS. The business's quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts forecast that Laboratory Co. of America will post 14.52 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed 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 1.23%. Laboratory Co. of America's dividend payout ratio is currently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the transaction, the chief marketing officer now directly owns 4,318 shares in the company, valued at $1,031,613.38. This trade represents a 45.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares of the company's stock, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,572 shares of company stock valued at $6,145,209 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Large investors have recently added to or reduced their stakes in the stock. SouthState Corp acquired a new stake in shares of Laboratory Co. of America in the third quarter worth $28,000. Horizon Bancorp Inc. IN bought a new stake in Laboratory Co. of America during the third quarter valued at about $29,000. Fortitude Family Office LLC grew its position in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Riverview Trust Co lifted its position in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock worth $38,000 after purchasing an additional 107 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company's stock valued at $38,000 after buying an additional 52 shares during the last quarter. 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.