Laboratory Co. of America (NYSE:LH) Price Target Raised to $290.00 at Truist Financial

Laboratory Co. of America (NYSE:LH) had its target price increased by equities research analysts at Truist Financial from $274.00 to $290.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Truist Financial’s price objective suggests a potential upside of 15.89% from the company’s current price.

Several other analysts also recently issued reports on LH. Jefferies Financial Group upped their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. UBS Group reduced their price target 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. Finally, StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 18th. 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. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $270.62.

Laboratory Co. of America Stock Down 0.3%

Laboratory Co. of America stock opened at $250.24 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a market cap of $20.95 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The stock’s 50 day moving average price is $233.54 and its 200 day moving average price is $237.28.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Laboratory Co. of America’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.68 earnings per share. On average, sell-side analysts predict that Laboratory Co. of America will post 16.01 EPS for the current fiscal year.

Insider Activity at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,105 shares of Laboratory Co. of America stock in a transaction on Monday, May 12th. The stock was sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the transaction, the chief executive officer now directly owns 98,962 shares in the company, valued at approximately $24,614,818.26. This trade represents a 5.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amy B. Summy sold 758 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. This represents a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,971 shares of company stock worth $4,193,073 in the last three months. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Several large investors have recently modified their holdings of LH. Vanguard Group Inc. boosted its position in Laboratory Co. of America by 0.7% during 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 purchasing an additional 71,464 shares during the last quarter. Geode Capital Management LLC increased its stake 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 worth $458,334,000 after purchasing an additional 39,255 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Laboratory Co. of America by 2.1% during 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 acquiring an additional 40,814 shares during the period. JPMorgan Chase & Co. increased its stake in Laboratory Co. of America by 9.5% during 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 acquiring an additional 167,137 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Laboratory Co. of America by 2.4% during 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 acquiring an additional 41,898 shares during the period. 95.94% of the stock is owned by 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.