Laboratory Co. of America Holdings (NYSE:LH) Receives $255.92 Consensus Price Target from Analysts

Laboratory Co. of America Holdings (NYSE:LH) has earned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $255.92.

LH has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at $833,273.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the sale, the chief financial officer now owns 31,289 shares in the company, valued at $7,008,423.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock worth $4,043,950 over the last three months. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Hedge funds and other institutional investors have recently bought and sold shares of the company. Horizon Bancorp Inc. IN purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $29,000. Pathway Financial Advisers LLC acquired a new stake in shares of Laboratory Co. of America during the 1st quarter worth about $30,000. Industrial Alliance Investment Management Inc. acquired a new stake in Laboratory Co. of America during the second quarter worth approximately $27,000. Innealta Capital LLC purchased a new stake in Laboratory Co. of America in the 2nd quarter worth approximately $32,000. Finally, Riverview Trust Co lifted its stake in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Price Performance

Shares of LH opened at $234.38 on Thursday. The stock has a market capitalization of $19.60 billion, a PE ratio of 45.33, a PEG ratio of 1.87 and a beta of 1.05. The company has a 50 day moving average price of $222.59 and a 200-day moving average price of $213.85. 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 has a fifty-two week low of $191.97 and a fifty-two week high of $239.50.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.38 EPS. Equities analysts predict that Laboratory Co. of America will post 14.53 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.23%. Laboratory Co. of America’s payout ratio is 55.71%.

About Laboratory Co. of America

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.