Truist Financial Lowers Laboratory Co. of America (NYSE:LH) Price Target to $274.00

Laboratory Co. of America (NYSE:LH) had its price target dropped by investment analysts at Truist Financial from $285.00 to $274.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Truist Financial’s price target suggests a potential upside of 25.19% from the company’s current price.

LH has been the subject of several other reports. Barclays reduced their price objective on Laboratory Co. of America from $260.00 to $240.00 and set an “equal weight” rating for the company in a research note on Thursday. Bank of America increased their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Piper Sandler boosted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Sunday, April 6th. Finally, Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $268.77.

Laboratory Co. of America Stock Down 5.0 %

LH stock opened at $218.87 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week high of $258.59. The stock has a market capitalization of $18.32 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The firm has a 50 day moving average of $240.55 and a 200 day moving average of $234.79.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Sell-side analysts forecast that Laboratory Co. of America will post 16.01 earnings per share for the current year.

Insider Transactions at Laboratory Co. of America

In related news, EVP Amy B. Summy sold 758 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. This trade represents a 12.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $1,497,319.02. Following the completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,258 shares of company stock worth $3,518,177. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Laboratory Co. of America

Several institutional investors have recently bought and sold shares of the company. Graney & King LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC boosted its position in 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 period. Geneos Wealth Management Inc. grew its stake in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after acquiring an additional 127 shares in the last quarter. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at $39,000. Finally, Heck Capital Advisors LLC purchased a new position in Laboratory Co. of America in the fourth quarter valued at $44,000. 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.