Laboratory Co. of America (NYSE:LH) Stock Price Expected to Rise, Truist Financial Analyst Says

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

Several other research analysts also recently issued reports on the stock. Barclays raised their price objective on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Jefferies Financial Group lifted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 target price on the stock. Finally, UBS Group lowered their target price on shares of 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. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $270.62.

Laboratory Co. of America Trading Up 2.1%

Shares of Laboratory Co. of America stock opened at $250.89 on Monday. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year 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. The company has a market capitalization of $21.00 billion, a P/E ratio of 28.45, a PEG ratio of 1.71 and a beta of 0.82. The company’s fifty day moving average is $233.61 and its two-hundred day moving average is $237.19.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period last year, the firm posted $3.68 EPS. Laboratory Co. of America’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Laboratory Co. of America will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

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 paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is 33.29%.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,900 shares of Laboratory Co. of America stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $238.36, for a total transaction of $452,884.00. Following the completion of the transaction, the executive vice president now owns 2,244 shares in the company, valued at approximately $534,879.84. The trade was a 45.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the transaction, the executive vice president now owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. The trade was a 12.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,866 shares of company stock worth $2,674,576. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LH. Vanguard Group Inc. raised its position in shares of Laboratory Co. of America by 0.7% in the first quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company’s stock valued at $2,262,817,000 after buying an additional 71,464 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Laboratory Co. of America by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company’s stock valued at $458,334,000 after buying an additional 39,255 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Laboratory Co. of America by 2.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,957,319 shares of the medical research company’s stock valued at $455,370,000 after buying an additional 40,814 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Laboratory Co. of America by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock valued at $418,042,000 after buying an additional 41,898 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

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.