Laboratory Co. of America (NYSE:LH) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Laboratory Co. of America (NYSE:LH) from a buy rating to a hold rating in a research note released on Friday.

Several other research analysts also recently commented on the stock. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. 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 research report on Tuesday, January 28th. Redburn Atlantic began coverage on 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. Truist Financial reduced their price objective on Laboratory Co. of America from $285.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Jefferies Financial Group boosted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $268.77.

Laboratory Co. of America Trading Down 1.5 %

Laboratory Co. of America stock opened at $217.25 on Friday. Laboratory Co. of America has a one year low of $191.97 and a one year high of $258.59. The company’s fifty day moving average price is $237.54 and its two-hundred day moving average price is $234.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The company has a market capitalization of $18.18 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.71 and a beta of 0.99.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 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%. On average, analysts forecast that Laboratory Co. of America will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.33%. Laboratory Co. of America’s payout ratio is presently 32.65%.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the completion of the transaction, the director now directly owns 13,166 shares of the company’s stock, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock worth $3,518,177 in the last 90 days. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Laboratory Co. of America

Institutional investors have recently bought and sold shares of the business. Graney & King LLC bought a new stake in shares of Laboratory Co. of America during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC boosted its position in Laboratory Co. of America by 312.5% in the 4th 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 during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares during the period. Human Investing LLC bought a new stake in shares of Laboratory Co. of America during the fourth quarter worth $39,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter valued at $44,000. Institutional investors 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.