UBS Group Cuts Laboratory Co. of America (NYSE:LH) Price Target to $286.00

Laboratory Co. of America (NYSE:LH) had its price objective lowered by UBS Group from $293.00 to $286.00 in a research note released on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the medical research company’s stock.

Several other equities analysts have also recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Bank of America upped their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Piper Sandler raised their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.77.

Laboratory Co. of America Price Performance

LH stock opened at $251.39 on Tuesday. The firm has a 50-day moving average of $235.60 and a two-hundred day moving average of $228.09. The firm has a market capitalization of $21.03 billion, a PE ratio of 48.62, a P/E/G ratio of 1.81 and a beta of 1.06. 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 has a one year low of $191.97 and a one year high of $258.59.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Laboratory Co. of America’s payout ratio is currently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $5,915,209 over the last 90 days. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Laboratory Co. of America by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after buying an additional 263,105 shares during the last quarter. FMR LLC lifted its position in Laboratory Co. of America by 17.0% in the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after purchasing an additional 230,708 shares during the period. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 167,137 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Laboratory Co. of America by 22.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company’s stock valued at $128,990,000 after buying an additional 105,443 shares during the period. Finally, River Road Asset Management LLC raised its stake in shares of Laboratory Co. of America by 37.8% in the 3rd quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock valued at $63,490,000 after buying an additional 77,921 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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.