Laboratory Co. of America (NYSE:LH) Rating Lowered to "Hold" at StockNews.com

StockNews.com lowered shares of Laboratory Co. of America (NYSE:LH - Free Report) from a buy rating to a hold rating in a report published on Saturday morning.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group boosted their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Barclays lowered their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and increased their target price for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, UBS Group cut their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $269.92.

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Laboratory Co. of America Price Performance

LH stock traded down $0.11 during trading on Friday, reaching $232.63. 686,921 shares of the company were exchanged, compared to its average volume of 623,430. 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 stock's 50 day moving average price is $244.45 and its 200 day moving average price is $234.86. 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 $19.47 billion, a P/E ratio of 26.38, a PEG ratio of 1.71 and a beta of 1.12.

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 return on equity of 15.29% and a net margin of 5.73%. As a group, analysts predict that Laboratory Co. of America will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.24%. Laboratory Co. of America's dividend payout ratio is presently 32.65%.

Insider Buying and Selling

In related news, EVP Amy B. Summy sold 758 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the sale, the executive vice president now owns 5,302 shares of the company's stock, valued at approximately $1,228,314.34. This represents a 12.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, the director now directly owns 13,166 shares in the company, valued at approximately $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,258 shares of company stock valued at $3,753,177. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Laboratory Co. of America during the 4th quarter worth approximately $239,811,000. Select Equity Group L.P. raised its stake in shares of Laboratory Co. of America by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after purchasing an additional 959,981 shares during the period. Amundi lifted its position in shares of Laboratory Co. of America by 344.9% during the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company's stock worth $263,161,000 after purchasing an additional 870,903 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at $123,415,000. Finally, Alliancebernstein L.P. grew its holdings in Laboratory Co. of America by 59.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company's stock valued at $234,160,000 after purchasing an additional 380,624 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

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.