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

Laboratory Co. of America (NYSE:LH) had its target price hoisted by Barclays from $249.00 to $271.00 in a report released on Monday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the medical research company’s stock.

Several other research analysts also recently issued reports on LH. Bank of America upped their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $263.46.

Laboratory Co. of America Stock Performance

NYSE LH opened at $250.01 on Monday. Laboratory Co. of America has a 12-month low of $191.97 and a 12-month high of $258.59. The firm has a 50-day moving average price of $236.30 and a two-hundred day moving average price of $229.20. The company has a market capitalization of $20.91 billion, a P/E ratio of 48.36, a P/E/G ratio of 1.86 and a beta of 1.07. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is 55.71%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the sale, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the transaction, the executive vice president now owns 2,670 shares in the company, valued at $639,251.40. This represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $5,915,209 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

A number of hedge funds have recently added to or reduced their stakes in the company. SouthState Corp bought a new position in shares of Laboratory Co. of America in the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter worth $29,000. Fortitude Family Office LLC lifted its stake in shares of 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 buying an additional 100 shares in the last quarter. Riverview Trust Co grew its holdings in shares of Laboratory Co. of America by 172.6% during 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 during the last quarter. Finally, Concord Wealth Partners increased its position in shares of Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds 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.