Laboratory Co. of America Holdings (NYSE:LH) Receives Average Rating of “Moderate Buy” from Analysts

Laboratory Co. of America Holdings (NYSE:LH) has been given a consensus rating of “Moderate Buy” by the sixteen ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $263.77.

LH has been the topic of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley boosted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. UBS Group cut their price target 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. Finally, Bank of America boosted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th.

Laboratory Co. of America Stock Down 0.6 %

Shares of LH opened at $246.18 on Friday. The firm has a market cap of $20.59 billion, a P/E ratio of 47.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. Laboratory Co. of America has a 12-month low of $191.97 and a 12-month high of $258.59. The company’s 50-day moving average price is $236.56 and its 200 day moving average price is $229.47. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. On average, sell-side analysts forecast that Laboratory Co. of America will post 14.51 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

Insider Activity at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on 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 $21,289,260.27. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock valued at $5,915,209 over the last three months. 0.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Large investors have recently modified their holdings of the stock. SouthState Corp purchased a new position in Laboratory Co. of America in the third quarter worth $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America in the third quarter worth $29,000. Fortitude Family Office LLC raised its position in 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 worth $30,000 after acquiring an additional 100 shares in the last quarter. Riverview Trust Co raised its position in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after acquiring an additional 107 shares in the last quarter. Finally, Concord Wealth Partners raised its position in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after acquiring an additional 52 shares in the last quarter. 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.