Barclays Increases Laboratory Co. of America (NYSE:LH) Price Target to $271.00

Laboratory Co. of America (NYSE:LH) had its price target raised by research analysts at Barclays from $249.00 to $271.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price objective suggests a potential upside of 9.85% from the stock’s current price.

Other research analysts have also issued research reports about the company. 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. Jefferies Financial Group reiterated a “buy” rating and set a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. UBS Group decreased their price objective on shares of 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. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler increased their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $263.46.

Laboratory Co. of America Stock Performance

Shares of NYSE LH opened at $246.70 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America has a one year low of $191.97 and a one year high of $258.59. The business’s 50-day moving average price is $236.14 and its two-hundred day moving average price is $228.95. The company has a market capitalization of $20.63 billion, a P/E ratio of 47.72, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07.

Insider Activity

In related 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 transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock valued at $5,915,209 in the last ninety days. 0.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LH. SouthState Corp acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth about $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter valued at approximately $29,000. Fortitude Family Office LLC grew its stake 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 valued at $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Finally, Riverview Trust Co grew its stake in shares of 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 valued at $38,000 after buying an additional 107 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.