Laboratory Co. of America (NYSE:LH) Given New $290.00 Price Target at Truist Financial

Laboratory Co. of America (NYSE:LH) had its price target hoisted by Truist Financial from $274.00 to $290.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the medical research company’s stock.

A number of other research firms have also commented on LH. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Piper Sandler restated a “neutral” rating and issued a $280.00 price target (up previously from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective for the company. Robert W. Baird increased their price objective on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Barclays boosted their target price on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $270.62.

Laboratory Co. of America Trading Down 3.0%

LH stock opened at $242.41 on Monday. 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 capitalization of $20.29 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The company’s 50-day simple moving average is $233.32 and its 200 day simple moving average is $237.31. 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 announced its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.11. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the prior year, the business posted $3.68 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Laboratory Co. of America will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. Laboratory Co. of America’s dividend payout ratio is 33.29%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 829 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the completion of the transaction, the chief accounting officer now directly owns 2,054 shares in the company, valued at approximately $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares in the company, valued at $1,228,314.34. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,971 shares of company stock valued at $4,193,073 in the last quarter. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in Laboratory Co. of America by 11.8% in the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock valued at $138,718,000 after purchasing an additional 65,356 shares during the period. Franklin Resources Inc. grew its position in shares of Laboratory Co. of America by 27.3% in the 3rd quarter. Franklin Resources Inc. now owns 20,837 shares of the medical research company’s stock valued at $4,519,000 after buying an additional 4,468 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Laboratory Co. of America by 2.8% in the third quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company’s stock valued at $21,587,000 after buying an additional 2,595 shares during the period. JPMorgan Chase & Co. increased 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 valued at $431,405,000 after buying an additional 167,137 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Laboratory Co. of America by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,275 shares of the medical research company’s stock worth $4,531,000 after acquiring an additional 71 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

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.