Laboratory Co. of America Holdings (NYSE:LH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Laboratory Co. of America Holdings (NYSE:LH) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $270.38.

Several research analysts have recently commented on the stock. Redburn Atlantic began coverage on shares of Laboratory Co. of America in a report on Wednesday. They issued a “buy” rating and a $276.00 price target for the company. Barclays decreased their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Bank of America boosted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Piper Sandler increased their target price on 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.

Laboratory Co. of America Trading Down 1.3 %

Shares of NYSE LH opened at $233.27 on Friday. The stock has a market capitalization of $19.52 billion, a P/E ratio of 26.45, a PEG ratio of 1.71 and a beta of 1.12. The stock’s 50 day moving average price is $244.11 and its two-hundred day moving average price is $234.87. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America has a 52-week low of $191.97 and a 52-week high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data 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 return on equity of 15.29% and a net margin of 5.73%. On average, analysts anticipate 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. Investors of record on Thursday, February 27th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. This trade represents a 12.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the transaction, the director now 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 90 days, insiders have sold 15,258 shares of company stock valued at $3,753,177. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LH. Empowered Funds LLC raised its position in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after acquiring an additional 43 shares in the last quarter. SP Asset Management LLC raised its holdings in shares of Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after purchasing an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Laboratory Co. of America by 0.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after purchasing an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock valued at $1,650,000 after purchasing an additional 46 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Laboratory Co. of America by 16.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after buying an additional 50 shares in the last quarter. 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.