Laboratory Co. of America (NYSE:LH) Given New $213.00 Price Target at Barclays

Laboratory Co. of America (NYSE:LH) had its price objective reduced by Barclays from $234.00 to $213.00 in a report issued on Friday morning, Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

A number of other brokerages also recently weighed in on LH. TheStreet downgraded shares of Laboratory Co. of America from a b- rating to a c+ rating in a research report on Thursday, February 15th. Argus upgraded shares of Laboratory Co. of America from a hold rating to a buy rating and set a $250.00 price objective for the company in a research report on Monday, March 25th. SVB Leerink began coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They issued an outperform rating and a $260.00 price objective for the company. Robert W. Baird cut their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an outperform rating for the company in a research note on Friday. Finally, Leerink Partnrs reissued an outperform rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $243.14.

Laboratory Co. of America Trading Up 0.0 %

NYSE:LH opened at $198.40 on Friday. Laboratory Co. of America has a 12 month low of $174.20 and a 12 month high of $234.09. The firm has a fifty day simple moving average of $211.70 and a 200-day simple moving average of $214.66. The company has a current ratio of 0.88, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $16.69 billion, a P/E ratio of 39.92, a PEG ratio of 1.49 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.22. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.82 earnings per share. On average, equities research analysts anticipate that Laboratory Co. of America will post 14.84 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.88 annualized dividend and a yield of 1.45%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Insider Activity at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the sale, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CMO Amy B. Summy sold 227 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the sale, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $222.06, for a total transaction of $57,513.54. Following the completion of the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,695,872.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,305 shares of company stock valued at $11,761,059. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in Laboratory Co. of America by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock worth $5,097,000 after buying an additional 1,237 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Laboratory Co. of America by 6.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock worth $1,711,000 after buying an additional 484 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Laboratory Co. of America in the 4th quarter valued at approximately $1,091,000. Cerity Partners LLC increased its position in shares of Laboratory Co. of America by 8.6% in the 4th quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock valued at $14,645,000 after purchasing an additional 5,105 shares during the last quarter. Finally, Duality Advisers LP purchased a new stake in shares of Laboratory Co. of America in the 4th quarter valued at approximately $2,786,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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).