Barclays Issues Positive Forecast for Laboratory Co. of America (NYSE:LH) Stock Price

Laboratory Co. of America (NYSE:LH) had its price target increased by equities researchers at Barclays from $249.00 to $271.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price objective points to a potential upside of 9.13% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Bank of America lifted 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. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Piper Sandler boosted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.46.

Laboratory Co. of America Price Performance

Shares of LH traded down $1.48 during trading hours on Monday, reaching $248.32. 173,020 shares of the company’s stock traded hands, compared to its average volume of 552,120. Laboratory Co. of America has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market cap of $20.77 billion, a PE ratio of 48.00, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The firm’s 50 day simple moving average is $236.02 and its 200-day simple moving average is $228.72.

Insiders Place Their Bets

In other news, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,572 shares of company stock worth $5,915,209. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Hedge funds have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Laboratory Co. of America by 0.7% during the third quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after acquiring an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Laboratory Co. of America by 1.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock valued at $442,197,000 after purchasing an additional 29,046 shares during the last quarter. Geode Capital Management LLC increased its stake in Laboratory Co. of America by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after purchasing an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Laboratory Co. of America by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after buying an additional 51,045 shares during the last quarter. 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.