Laboratory Co. of America (NYSE:LH) Reaches New 12-Month High – Should You Buy?

Laboratory Co. of America Holdings (NYSE:LH)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $258.59 and last traded at $255.33, with a volume of 43681 shares trading hands. The stock had previously closed at $256.81.

Wall Street Analysts Forecast Growth

LH has been the subject of several recent analyst reports. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group increased their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Bank of America boosted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $250.00 to $300.00 in a research report on Tuesday. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $268.38.

Laboratory Co. of America Stock Down 1.6 %

The company’s 50-day moving average price is $242.27 and its 200 day moving average price is $233.19. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a market cap of $21.15 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its earnings results 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 net margin of 5.73% and a return on equity of 15.29%. As a group, analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.14%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,339 shares of Laboratory Co. of America stock in a transaction that occurred 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 transaction, the chief operating officer now owns 4,960 shares of the company’s stock, valued at $1,236,180.80. The trade was a 51.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,000 shares of company stock valued at $3,449,757. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Several large investors have recently made changes to their positions in the business. Graney & King LLC bought a new stake in Laboratory Co. of America during the 4th quarter valued at approximately $26,000. SouthState Corp purchased a new stake in Laboratory Co. of America during the 3rd quarter valued at approximately $28,000. Fortitude Family Office LLC raised its position in shares of Laboratory Co. of America by 312.5% during the fourth 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. lifted its holdings in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. Finally, Human Investing LLC bought a new position in shares of Laboratory Co. of America during the fourth quarter worth $39,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

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.