Laboratory Co. of America (NYSE:LH) PT Raised to $289.00

Laboratory Co. of America (NYSE:LH) had its price target raised by equities researchers at Robert W. Baird from $282.00 to $289.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price objective indicates a potential upside of 25.61% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Barclays dropped their target price on shares of Laboratory Co. of America from $249.00 to $234.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Bank of America upped their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Truist Financial increased their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.38.

Laboratory Co. of America Price Performance

NYSE:LH opened at $230.07 on Friday. The stock has a market capitalization of $19.32 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. The stock’s 50-day moving average price is $222.47 and its 200-day moving average price is $212.14. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week high of $239.50.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the company earned $3.38 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that Laboratory Co. of America will post 14.55 EPS for the current fiscal year.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,679 shares of company stock valued at $6,716,306 over the last quarter. 0.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Laboratory Co. of America

A number of large investors have recently modified their holdings of the company. Insight Inv LLC lifted its holdings in Laboratory Co. of America by 1.3% during the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock worth $718,000 after buying an additional 45 shares during the last quarter. Athena Investment Management raised its holdings in Laboratory Co. of America by 4.8% during the second quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock worth $212,000 after purchasing an additional 48 shares in the last quarter. Connecticut Wealth Management LLC boosted its holdings in shares of 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 valued at $649,000 after buying an additional 52 shares in the last quarter. Concord Wealth Partners raised its stake in Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after acquiring an additional 52 shares in the last quarter. Finally, Pure Financial Advisors LLC boosted its stake in Laboratory Co. of America by 5.1% in the second quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock valued at $222,000 after acquiring an additional 53 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.