Laboratory Co. of America (NYSE:LH) Price Target Lowered to $260.00 at Barclays

Laboratory Co. of America (NYSE:LH - Free Report) had its price target lowered by Barclays from $271.00 to $260.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the medical research company's stock.

Other analysts have also issued research reports about the company. Piper Sandler upped their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Hsbc Global Res upgraded Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. HSBC upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Finally, Bank of America increased their price objective 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. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Laboratory Co. of America has a consensus rating of "Moderate Buy" and a consensus price target of $265.31.

Laboratory Co. of America Trading Up 0.1 %

NYSE:LH traded up $0.15 during midday trading on Friday, hitting $245.23. The stock had a trading volume of 408,960 shares, compared to its average volume of 602,028. Laboratory Co. of America has a one year low of $191.97 and a one year high of $258.59. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.84 and a beta of 1.07. The stock has a 50-day moving average of $236.76 and a 200 day moving average of $230.24. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping 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, sell-side analysts forecast that Laboratory Co. of America will post 15.96 EPS 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. Shareholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Insiders Place Their Bets

In other news, Director Dwight Gary Gilliland sold 1,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $241.00, for a total transaction of $241,000.00. Following the sale, the director now directly owns 7,712 shares in the company, valued at $1,858,592. This trade represents a 11.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Amy B. Summy sold 3,672 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $238.91, for a total value of $877,277.52. Following the sale, the chief marketing officer now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 18,383 shares of company stock valued at $4,408,373. Company insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Laboratory Co. of America

Institutional investors have recently modified their holdings of the business. SouthState Corp acquired a new stake in Laboratory Co. of America in the 3rd quarter worth 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 lifted its stake in Laboratory Co. of America by 312.5% in 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 in the last quarter. Riverview Trust Co lifted its stake in Laboratory Co. of America by 172.6% in 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 in the last quarter. Finally, Concord Wealth Partners lifted its stake 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 worth $38,000 after purchasing an additional 52 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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.