Laboratory Co. of America (NYSE:LH) PT Raised to $249.00

Laboratory Co. of America (NYSE:LH) had its price target hoisted by Barclays from $213.00 to $249.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the medical research company’s stock.

Several other analysts have also issued reports on LH. Robert W. Baird increased their price objective on Laboratory Co. of America from $261.00 to $277.00 and gave the stock an outperform rating in a report on Friday. StockNews.com downgraded shares of Laboratory Co. of America from a buy rating to a hold rating in a research report on Tuesday, June 4th. Evercore ISI increased their target price on shares of 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. Truist Financial increased their target price on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a buy rating in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Laboratory Co. of America from $261.00 to $243.00 and set an overweight rating on the stock in a research report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $247.79.

Laboratory Co. of America Stock Up 1.1 %

Shares of NYSE:LH traded up $2.61 during midday trading on Friday, hitting $236.00. 1,194,681 shares of the stock were exchanged, compared to its average volume of 600,207. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. Laboratory Co. of America has a 52-week low of $191.97 and a 52-week high of $238.46. The business’s fifty day simple moving average is $205.23 and its two-hundred day simple moving average is $210.54. The company has a market capitalization of $19.89 billion, a PE ratio of 47.49, a P/E/G ratio of 1.76 and a beta of 1.05.

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

Laboratory Co. of America Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the transaction, the executive vice president now owns 5,637 shares in the company, valued at $1,188,448.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LH. Manchester Capital Management LLC raised its position in Laboratory Co. of America by 1.1% in the 4th quarter. Manchester Capital Management LLC now owns 4,159 shares of the medical research company’s stock worth $945,000 after purchasing an additional 45 shares during the last quarter. Trust Investment Advisors raised its position in Laboratory Co. of America by 1.8% in the 4th quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock worth $583,000 after purchasing an additional 46 shares during the last quarter. SP Asset Management LLC raised its position in Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 14,992 shares of the medical research company’s stock worth $3,407,000 after purchasing an additional 46 shares during the last quarter. Unison Advisors LLC raised its position in Laboratory Co. of America by 0.5% in the 1st quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock worth $2,415,000 after purchasing an additional 51 shares during the last quarter. Finally, Connecticut Wealth Management LLC raised its position in Laboratory Co. of America by 1.8% in the 1st quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock worth $649,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Company Profile

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).