Laboratory Co. of America Holdings (NYSE:LH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Laboratory Co. of America Holdings (NYSE:LH) have been given an average rating of “Moderate Buy” by the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $270.62.

Several research analysts have recently issued reports on the company. Barclays increased their price target on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Truist Financial increased their target price on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Citigroup raised shares of 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. Finally, StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 18th.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,105 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the transaction, the chief executive officer now owns 98,962 shares of the company’s stock, valued at approximately $24,614,818.26. This trade represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Mark S. Schroeder sold 5,339 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the sale, the chief operating officer now directly owns 4,960 shares in the company, valued at approximately $1,236,180.80. This trade represents a 51.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,971 shares of company stock worth $4,193,073 in the last quarter. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Several hedge funds have recently bought and sold shares of LH. Graney & King LLC purchased a new stake in shares of Laboratory Co. of America in the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC lifted its position in Laboratory Co. of America by 88.1% in the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after buying an additional 52 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Laboratory Co. of America during the 1st quarter valued at $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Laboratory Co. of America during the 1st quarter valued at $28,000. Finally, Larson Financial Group LLC grew its holdings in shares of Laboratory Co. of America by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 73 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Up 1.4%

LH stock opened at $249.60 on Monday. The stock has a market cap of $20.89 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The firm’s 50-day simple moving average is $233.57 and its 200 day simple moving average is $237.71. Laboratory Co. of America has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

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 the consensus estimate of $3.73 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Laboratory Co. of America’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.68 EPS. As a group, sell-side analysts predict that Laboratory Co. of America will post 16.01 EPS for the current 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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is 33.29%.

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.