Laboratory Co. of America (NYSE:LH) Price Target Cut to $260.00 by Analysts at Barclays

Laboratory Co. of America (NYSE:LH) had its price target cut by Barclays from $271.00 to $260.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s price target would indicate a potential upside of 5.61% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. UBS Group reduced their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group upped their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.77.

Laboratory Co. of America Price Performance

NYSE LH traded down $1.56 on Friday, reaching $246.18. The company’s stock had a trading volume of 588,360 shares, compared to its average volume of 613,994. The firm has a market cap of $20.59 billion, a PE ratio of 47.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The business has a 50-day moving average price of $236.56 and a 200 day moving average price of $229.47. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week 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.

Laboratory Co. of America (NYSE:LH) last released its quarterly 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 3.43% and a return on equity of 15.27%. Sell-side analysts expect that Laboratory Co. of America will post 14.51 EPS for the current year.

Insider Buying and Selling at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,572 shares of company stock valued at $5,915,209. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Inspire Advisors LLC lifted its stake in Laboratory Co. of America by 10.2% in the fourth quarter. Inspire Advisors LLC now owns 3,174 shares of the medical research company’s stock valued at $728,000 after acquiring an additional 295 shares during the last quarter. River Road Asset Management LLC lifted its stake in Laboratory Co. of America by 3.1% in the fourth quarter. River Road Asset Management LLC now owns 292,784 shares of the medical research company’s stock valued at $67,141,000 after acquiring an additional 8,687 shares during the last quarter. Independent Advisor Alliance lifted its stake in Laboratory Co. of America by 25.8% in the fourth quarter. Independent Advisor Alliance now owns 2,544 shares of the medical research company’s stock valued at $583,000 after acquiring an additional 521 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Laboratory Co. of America by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 12,240 shares of the medical research company’s stock valued at $2,807,000 after acquiring an additional 879 shares during the last quarter. Finally, Amundi lifted its stake in Laboratory Co. of America by 344.9% in the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock valued at $263,161,000 after acquiring an additional 870,903 shares during the last quarter. Institutional investors and hedge funds 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.