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

Laboratory Co. of America (NYSE:LH) had its price target upped by research analysts at Barclays from $234.00 to $249.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s target price suggests a potential upside of 8.99% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Piper Sandler began coverage on shares of Laboratory Co. of America in a research note on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 price target for the company. UBS Group raised their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Bank of America raised their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group lifted their target price on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $253.54.

Laboratory Co. of America Trading Down 0.7 %

Laboratory Co. of America stock traded down $1.61 during mid-day trading on Friday, hitting $228.46. The company’s stock had a trading volume of 424,294 shares, compared to its average volume of 667,041. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $239.50. The stock’s fifty day moving average is $222.47 and its two-hundred day moving average is $212.14. The firm has a market capitalization of $19.18 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

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, beating the consensus estimate 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 analyst estimates of $3.26 billion. During the same period in the previous year, the firm earned $3.38 EPS. Laboratory Co. of America’s revenue was up 7.4% on a year-over-year basis. On average, analysts anticipate that Laboratory Co. of America will post 14.55 EPS for the current year.

Insider Activity

In other news, EVP Lance Berberian sold 12,093 shares of the firm’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 completion of the transaction, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 586 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 14,722 shares of the company’s stock, valued at approximately $3,312,450. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,679 shares of company stock worth $6,946,306. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

A number of hedge funds and other institutional investors have recently modified their holdings of LH. Industrial Alliance Investment Management Inc. acquired a new position in Laboratory Co. of America in the 2nd quarter valued at $27,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America in the third quarter valued at $29,000. Pathway Financial Advisers LLC purchased a new position in Laboratory Co. of America during the first quarter worth about $30,000. Innealta Capital LLC purchased a new position in Laboratory Co. of America during the second quarter worth about $32,000. Finally, Family Firm Inc. purchased a new stake in Laboratory Co. of America in the 2nd quarter valued at about $37,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

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.