Jefferies Financial Group Forecasts Strong Price Appreciation for Laboratory Co. of America (NYSE:LH) Stock

Laboratory Co. of America (NYSE:LH) had its price target raised by stock analysts at Jefferies Financial Group from $275.00 to $290.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 17.25% from the stock’s current price.

Several other research analysts have also weighed in on the company. UBS Group dropped their price target on 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. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Barclays boosted their target price on shares of Laboratory Co. of America from $249.00 to $271.00 and gave the stock an “equal weight” rating in a research report on Monday. Bank of America lifted their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Robert W. Baird boosted their price target on 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. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $264.62.

Laboratory Co. of America Trading Down 1.1 %

Shares of NYSE:LH traded down $2.66 during midday trading on Thursday, reaching $247.33. The company had a trading volume of 1,002,722 shares, compared to its average volume of 615,063. The company has a fifty day simple moving average of $236.46 and a two-hundred day simple moving average of $229.34. The firm has a market cap of $20.69 billion, a price-to-earnings ratio of 47.84, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate 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%. Research analysts predict that Laboratory Co. of America will post 14.51 earnings per share for the current year.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the sale, the executive vice president now directly owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at approximately $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 24,572 shares of company stock worth $5,915,209 over the last three months. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

Several hedge funds and other institutional investors have recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its stake in Laboratory Co. of America by 115.7% in the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after acquiring an additional 3,265 shares during the last quarter. Alexander Randolph Advisory Inc. acquired a new stake in shares of Laboratory Co. of America during the third quarter worth $955,000. Wealthcare Advisory Partners LLC lifted its holdings in shares of Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock valued at $583,000 after purchasing an additional 490 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Laboratory Co. of America during the 3rd quarter worth approximately $2,316,000. Finally, Barclays PLC increased its stake in Laboratory Co. of America by 11.8% in the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock valued at $138,718,000 after buying an additional 65,356 shares during the last quarter. 95.94% of the stock is 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.