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

Laboratory Co. of America (NYSE:LH) had its price objective increased by Piper Sandler from $240.00 to $260.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Piper Sandler’s price target points to a potential upside of 5.69% from the company’s current price.

Several other research firms also recently issued reports on LH. Robert W. Baird boosted their price objective 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. Morgan Stanley upped their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Jefferies Financial Group increased their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays dropped their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $265.31.

Laboratory Co. of America Price Performance

Shares of NYSE:LH traded down $0.26 during trading on Monday, reaching $246.01. The stock had a trading volume of 61,449 shares, compared to its average volume of 591,372. The business has a fifty day moving average price of $236.67 and a 200-day moving average price of $229.99. The stock has a market cap of $20.58 billion, a PE ratio of 27.89, a PEG ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, equities analysts forecast that Laboratory Co. of America will post 15.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 12,722 shares in the company, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were 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 directly owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,383 shares of company stock worth $4,408,373. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LH. SouthState Corp acquired a new position in shares of Laboratory Co. of America during the third quarter valued at about $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America in the third quarter worth about $29,000. Fortitude Family Office LLC raised its position in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Riverview Trust Co raised its position in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares in the last quarter. Finally, Concord Wealth Partners raised its position in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

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.