Piper Sandler Issues Positive Forecast for Laboratory Co. of America (NYSE:LH) Stock Price

Laboratory Co. of America (NYSE:LH) had its target price boosted by equities researchers at Piper Sandler from $240.00 to $260.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical research company’s stock. Piper Sandler’s target price points to a potential upside of 5.69% from the company’s previous close.

LH has been the subject of several other research reports. Bank of America boosted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. UBS Group cut their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday. Finally, Morgan Stanley lifted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.31.

Laboratory Co. of America Stock Down 0.1 %

NYSE:LH traded down $0.26 during trading hours on Monday, reaching $246.01. 61,449 shares of the company traded hands, compared to its average volume of 591,372. The business’s 50-day moving average price is $236.67 and its two-hundred day moving average price is $229.99. The stock has a market capitalization of $20.58 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.84 and a beta of 1.07. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

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, beating analysts’ consensus estimates 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%. Analysts predict that Laboratory Co. of America will post 15.96 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Amy B. Summy sold 3,672 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total value of $877,277.52. Following the sale, the chief marketing officer now owns 4,318 shares of the company’s stock, valued at approximately $1,031,613.38. This represents a 45.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,383 shares of company stock valued at $4,408,373 over the last quarter. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Laboratory Co. of America

Several hedge funds and other institutional investors have recently made changes to their positions in LH. Amundi raised its stake in Laboratory Co. of America by 344.9% in the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock worth $263,161,000 after acquiring an additional 870,903 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Laboratory Co. of America by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after acquiring an additional 263,105 shares during the last quarter. FMR LLC raised its stake in Laboratory Co. of America by 17.0% in the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after acquiring an additional 230,708 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after acquiring an additional 167,137 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Laboratory Co. of America in the 4th quarter worth $33,779,000. Hedge funds and other institutional investors 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.