Laboratory Co. of America (NYSE:LH) PT Lowered to $244.00

Laboratory Co. of America (NYSE:LH) had its price target cut by equities research analysts at Robert W. Baird from $255.00 to $244.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s target price would indicate a potential upside of 22.98% from the company’s current price.

A number of other analysts also recently weighed in on LH. Barclays started coverage on Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 price objective for the company. Evercore ISI started coverage on Laboratory Co. of America in a report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective for the company. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Monday, March 25th. Finally, SVB Leerink started coverage on Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.14.

Laboratory Co. of America Stock Up 0.0 %

Shares of NYSE:LH opened at $198.40 on Friday. The company has a fifty day moving average of $211.70 and a 200-day moving average of $214.75. The company has a market capitalization of $16.69 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 0.88. Laboratory Co. of America has a 52-week low of $174.20 and a 52-week high of $234.09.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.82 earnings per share. On average, equities analysts predict that Laboratory Co. of America will post 14.85 EPS for the current fiscal year.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the sale, the chief financial officer now owns 23,595 shares in the company, valued at approximately $5,095,812.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Jonathan P. Divincenzo sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.49, for a total transaction of $107,745.00. Following the completion of the sale, the executive vice president now owns 3,401 shares in the company, valued at approximately $732,881.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the sale, the chief financial officer now owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,305 shares of company stock worth $11,761,059. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

Large investors have recently modified their holdings of the stock. Provence Wealth Management Group bought a new position in Laboratory Co. of America in the 3rd quarter worth approximately $29,000. Mendota Financial Group LLC bought a new position in Laboratory Co. of America in the 4th quarter worth approximately $29,000. Tradewinds Capital Management LLC bought a new position in Laboratory Co. of America in the 3rd quarter worth approximately $34,000. Exchange Traded Concepts LLC bought a new position in Laboratory Co. of America in the 3rd quarter worth approximately $37,000. Finally, Bruce G. Allen Investments LLC bought a new position in Laboratory Co. of America in the 4th quarter worth approximately $60,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

About Laboratory Co. of America

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).