Truist Financial Cuts Laboratory Co. of America (NYSE:LH) Price Target to $274.00

Laboratory Co. of America (NYSE:LH) had its target price reduced by Truist Financial from $285.00 to $274.00 in a report released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the medical research company’s stock.

A number of other research analysts have also recently weighed in on LH. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Redburn Atlantic began coverage on Laboratory Co. of America in a report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective for the company. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Sunday, April 6th. Morgan Stanley increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Jefferies Financial Group lifted their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.77.

Laboratory Co. of America Stock Up 1.3 %

NYSE:LH opened at $221.46 on Friday. The stock has a market capitalization of $18.54 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average is $240.04 and its two-hundred day moving average is $234.81. 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 issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates 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%. Research analysts anticipate that Laboratory Co. of America will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders 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 1.30%. Laboratory Co. of America’s payout ratio is presently 32.65%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kerrii B. Anderson sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, the director now directly owns 13,166 shares of the company’s stock, valued at $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,258 shares of company stock worth $3,518,177. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Laboratory Co. of America

Hedge funds and other institutional investors have recently made changes to their positions in the company. Graney & King LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter valued at $26,000. Fortitude Family Office LLC grew its stake in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. Human Investing LLC acquired a new stake in Laboratory Co. of America in the fourth quarter valued at $39,000. Finally, Heck Capital Advisors LLC bought a new position in Laboratory Co. of America during the 4th quarter worth $44,000. 95.94% of the stock is owned by institutional investors.

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.