Laboratory Co. of America (NYSE:LH) Given New $260.00 Price Target at Piper Sandler

Laboratory Co. of America (NYSE:LH) had its target price lifted by Piper Sandler from $240.00 to $260.00 in a research report sent to investors on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the medical research company’s stock.

LH has been the subject of several other research reports. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday. UBS Group decreased their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Bank of America boosted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays reduced their target price 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 note on Friday. Finally, Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.31.

Laboratory Co. of America Trading Down 0.5 %

Shares of LH stock opened at $245.14 on Monday. The firm has a fifty day moving average of $236.67 and a 200-day moving average of $229.99. The stock has a market cap of $20.50 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 1.84 and a beta of 1.07. Laboratory Co. of America has a 52-week low of $191.97 and a 52-week high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (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%. On average, equities research analysts forecast that Laboratory Co. of America will post 15.96 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Insider Buying and Selling

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was 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 of the company’s stock, valued at approximately $1,031,613.38. This trade represents a 45.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the sale, the executive vice president now directly owns 2,670 shares in the company, valued at $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,383 shares of company stock valued at $4,408,373. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

A number of institutional investors have recently added to or reduced their stakes in LH. State Street Corp grew its holdings in shares of Laboratory Co. of America by 0.7% during the third quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after purchasing an additional 25,469 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Laboratory Co. of America by 1.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock valued at $442,197,000 after buying an additional 29,046 shares during the period. Geode Capital Management LLC lifted its stake in shares of Laboratory Co. of America by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after acquiring an additional 13,298 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after acquiring an additional 167,137 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Laboratory Co. of America by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after acquiring an additional 51,045 shares during the last quarter. 95.94% of the stock is currently 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.