Laboratory Co. of America (NYSE:LH) Upgraded at StockNews.com

StockNews.com upgraded shares of Laboratory Co. of America (NYSE:LH - Free Report) from a hold rating to a buy rating in a research note issued to investors on Sunday.

Several other research analysts have also weighed in on the stock. UBS Group dropped their price objective 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. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and increased their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Bank of America raised their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Piper Sandler boosted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Laboratory Co. of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.85.

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Laboratory Co. of America Price Performance

Shares of NYSE LH traded down $11.61 during trading on Friday, hitting $218.87. The company had a trading volume of 2,023,110 shares, compared to its average volume of 637,590. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week high of $258.59. The company has a market cap of $18.32 billion, a P/E ratio of 24.82, a PEG ratio of 1.71 and a beta of 0.99. 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 business's 50-day moving average is $240.55 and its 200 day moving average is $234.79.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its 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%. Equities research analysts predict that Laboratory Co. of America will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.32%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Insider Activity

In related news, CEO Adam H. Schechter sold 6,121 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares of the company's stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Mark S. Schroeder sold 5,339 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the transaction, the chief operating officer now owns 4,960 shares of the company's stock, valued at approximately $1,236,180.80. This represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,258 shares of company stock worth $3,518,177. Company insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Laboratory Co. of America

Several institutional investors and hedge funds have recently made changes to their positions in the company. Graney & King LLC acquired a new position in Laboratory Co. of America in the fourth quarter valued at about $26,000. Fortitude Family Office LLC boosted its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after acquiring an additional 127 shares in the last quarter. Human Investing LLC bought a new stake in Laboratory Co. of America during the 4th quarter worth approximately $39,000. Finally, Heck Capital Advisors LLC acquired a new stake in Laboratory Co. of America during the 4th quarter valued at $44,000. Institutional investors and hedge funds 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.