Laboratory Co. of America (NYSE:LH) Stock Rating Lowered by StockNews.com

Laboratory Co. of America (NYSE:LH) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other equities analysts have also commented on LH. Bank of America boosted their price target on shares of 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. Jefferies Financial Group increased their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley lifted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $269.92.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $229.75 on Friday. Laboratory Co. of America has a twelve month low of $191.97 and a twelve month high of $258.59. 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 firm has a market cap of $19.23 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The firm’s 50-day simple moving average is $244.80 and its 200-day simple moving average is $234.69.

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, beating the consensus estimate 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%. As a group, research analysts expect that Laboratory Co. of America will post 16.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, the director now owns 13,166 shares of the company’s stock, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock valued at $3,577,572 in the last 90 days. 0.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Laboratory Co. of America during the fourth quarter worth about $25,929,000. Jefferies Financial Group Inc. raised its holdings in Laboratory Co. of America by 156.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 25,513 shares of the medical research company’s stock worth $5,851,000 after buying an additional 15,582 shares during the period. Heck Capital Advisors LLC bought a new position in Laboratory Co. of America in the fourth quarter valued at approximately $44,000. Forum Financial Management LP boosted its holdings in shares of Laboratory Co. of America by 93.9% in the fourth quarter. Forum Financial Management LP now owns 2,461 shares of the medical research company’s stock valued at $564,000 after buying an additional 1,192 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Laboratory Co. of America during the fourth quarter worth $481,000. 95.94% of the stock is currently owned by institutional investors.

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.