Deutsche Bank Aktiengesellschaft Boosts Laboratory Co. of America (NYSE:LH) Price Target to $230.00

Laboratory Co. of America (NYSE:LH) had its target price boosted by Deutsche Bank Aktiengesellschaft from $220.00 to $230.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a hold rating on the medical research company’s stock.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of Laboratory Co. of America from a buy rating to a hold rating in a report on Tuesday, June 4th. Barclays increased their price objective on Laboratory Co. of America from $213.00 to $249.00 and gave the company an equal weight rating in a research report on Friday. Robert W. Baird lifted their target price on Laboratory Co. of America from $261.00 to $277.00 and gave the stock an outperform rating in a report on Friday. Evercore ISI boosted their target price on Laboratory Co. of America from $210.00 to $215.00 and gave the stock an in-line rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. decreased their price target on Laboratory Co. of America from $261.00 to $243.00 and set an overweight rating for the company in a research report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of Moderate Buy and an average target price of $247.79.

Laboratory Co. of America Price Performance

Shares of LH traded up $2.61 during midday trading on Friday, reaching $236.00. The stock had a trading volume of 1,194,681 shares, compared to its average volume of 600,207. The firm’s 50 day moving average price is $205.23 and its 200-day moving average price is $210.54. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week high of $238.46. The company has a market capitalization of $19.89 billion, a P/E ratio of 47.49, a P/E/G ratio of 1.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the business earned $3.42 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts forecast that Laboratory Co. of America will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be paid a $0.72 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.88 annualized dividend and a yield of 1.22%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Insiders Place Their Bets

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total transaction of $421,660.00. Following the completion of the sale, the executive vice president now owns 5,637 shares of the company’s stock, valued at $1,188,448.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

A number of hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in shares of Laboratory Co. of America by 3.0% during the 4th quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock valued at $264,396,000 after acquiring an additional 33,493 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Laboratory Co. of America by 17.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock valued at $22,069,000 after purchasing an additional 14,708 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Laboratory Co. of America by 1,715.7% in the fourth quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock valued at $39,814,000 after purchasing an additional 165,528 shares during the period. SG Americas Securities LLC raised its position in shares of Laboratory Co. of America by 283.1% in the first quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock valued at $5,072,000 after purchasing an additional 17,156 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services acquired a new stake in shares of Laboratory Co. of America in the first quarter worth $1,418,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

About Laboratory Co. of America

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).