Jefferies Financial Group Raises Laboratory Co. of America (NYSE:LH) Price Target to $290.00

Laboratory Co. of America (NYSE:LH) had its target price increased by investment analysts at Jefferies Financial Group from $275.00 to $290.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 17.80% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Bank of America increased their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Three investment 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. According to MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $263.77.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $246.18 on Thursday. 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 firm has a market cap of $20.59 billion, a price-to-earnings ratio of 47.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. Laboratory Co. of America has a twelve month low of $191.97 and a twelve month high of $258.59. The company has a 50-day moving average of $236.56 and a 200-day moving average of $229.47.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. Analysts forecast that Laboratory Co. of America will post 14.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was 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 in the company, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the transaction, the executive vice president now directly owns 2,670 shares in the company, valued at $639,251.40. The trade was a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock valued at $5,915,209 in the last 90 days. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Laboratory Co. of America

A number of large investors have recently made changes to their positions in the company. SouthState Corp acquired a new position in shares of Laboratory Co. of America in the third quarter valued at approximately $28,000. Horizon Bancorp Inc. IN bought a new stake in Laboratory Co. of America during the third quarter worth about $29,000. Fortitude Family Office LLC boosted its holdings in shares of Laboratory Co. of America by 312.5% in the 4th 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. Riverview Trust Co grew its position in shares of Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 107 shares during the period. Finally, Concord Wealth Partners raised its stake 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 valued at $38,000 after buying an additional 52 shares during the period. 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.