Laboratory Co. of America (NYSE:LH) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Laboratory Co. of America (NYSE:LH) had its price objective hoisted by investment analysts at Jefferies Financial Group from $275.00 to $290.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 17.80% from the stock’s current price.

Several other research analysts have also issued reports on the company. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Robert W. Baird upped their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Bank of America upped their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $263.77.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $246.18 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. 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 market cap of $20.59 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 1.86 and a beta of 1.07. The stock has a fifty day moving average price of $236.56 and a 200-day moving average price of $229.47.

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 net margin of 3.43% and a return on equity of 15.27%. As a group, equities analysts anticipate that Laboratory Co. of America will post 14.51 EPS for the current fiscal year.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Amy B. Summy sold 3,672 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the completion of the transaction, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. The trade was a 45.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,572 shares of company stock worth $5,915,209. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

Several large investors have recently made changes to their positions in LH. Private Trust Co. NA grew its position in Laboratory Co. of America by 3.2% during the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after buying an additional 41 shares during the period. Empowered Funds LLC boosted its stake in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after acquiring an additional 43 shares during the last quarter. SP Asset Management LLC grew its position in shares of Laboratory Co. of America by 0.3% during the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after acquiring an additional 43 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Laboratory Co. of America by 0.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after purchasing an additional 45 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Laboratory Co. of America by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock worth $1,650,000 after purchasing an additional 46 shares during the period. 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.