Laboratory Co. of America (NYSE:LH) Coverage Initiated by Analysts at Redburn Atlantic

Stock analysts at Redburn Atlantic started coverage on shares of Laboratory Co. of America (NYSE:LH - Get Free Report) in a report released on Wednesday, MarketBeat Ratings reports. The firm set a "buy" rating and a $276.00 price target on the medical research company's stock. Redburn Atlantic's target price would indicate a potential upside of 24.88% from the stock's current price.

Several other brokerages have also recently issued reports on LH. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Piper Sandler increased their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. UBS Group cut their target price on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, Morgan Stanley lifted their price target on 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. Three equities 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $270.38.

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Laboratory Co. of America Stock Down 1.8 %

Shares of Laboratory Co. of America stock traded down $3.98 during trading on Wednesday, hitting $221.02. 324,181 shares of the stock were exchanged, compared to its average volume of 627,922. 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 firm's 50-day moving average price is $243.63 and its 200 day moving average price is $234.95. The stock has a market cap of $18.50 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. Laboratory Co. of America has a 12-month low of $191.97 and a 12-month high of $258.59.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS 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%. As a group, analysts forecast that Laboratory Co. of America will post 16.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now owns 12,722 shares of the company's stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the sale, the executive vice president now directly owns 2,171 shares of the company's stock, valued at $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,258 shares of company stock worth $3,753,177. 0.85% of the stock is owned by insiders.

Institutional Trading of Laboratory Co. of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its holdings in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock valued at $1,840,000 after purchasing an additional 43 shares during the period. SP Asset Management LLC raised its position in shares of Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock worth $3,483,000 after buying an additional 43 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Laboratory Co. of America by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock valued at $2,931,000 after acquiring an additional 45 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock worth $1,650,000 after acquiring an additional 46 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings 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 during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

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.