Piper Sandler Forecasts Strong Price Appreciation for Laboratory Co. of America (NYSE:LH) Stock

Laboratory Co. of America (NYSE:LH) had its target price lifted by research analysts at Piper Sandler from $240.00 to $260.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Piper Sandler’s target price would suggest a potential upside of 6.02% from the company’s previous close.

A number of other research firms also recently commented on LH. Robert W. Baird increased their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Jefferies Financial Group raised their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Barclays reduced their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $265.31.

Laboratory Co. of America Stock Up 0.1 %

NYSE:LH opened at $245.23 on Monday. The stock has a 50 day moving average of $236.76 and a 200-day moving average of $230.24. The firm has a market capitalization of $20.51 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. 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 has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping 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 EPS for the current year.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. The trade was a 27.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares in the company, valued at $639,251.40. This trade represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,383 shares of company stock valued at $4,408,373. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

A number of large investors have recently bought and sold shares of LH. AMF Tjanstepension AB boosted its position in shares of Laboratory Co. of America by 37.0% in the 3rd quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock worth $19,232,000 after purchasing an additional 23,221 shares in the last quarter. CWM LLC increased its holdings in shares of Laboratory Co. of America by 41.0% during the third quarter. CWM LLC now owns 7,107 shares of the medical research company’s stock valued at $1,588,000 after acquiring an additional 2,068 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of Laboratory Co. of America in the 3rd quarter worth about $84,000. Exchange Traded Concepts LLC grew its holdings in shares of Laboratory Co. of America by 1,962.5% during the third quarter. Exchange Traded Concepts LLC now owns 990 shares of the medical research company’s stock valued at $221,000 after buying an additional 942 shares during the last quarter. Finally, Gilman Hill Asset Management LLC bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth $409,000. 95.94% of the stock is owned by hedge funds and other 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.