Laboratory Co. of America (NYSE:LH) Price Target Increased to $265.00 by Analysts at Jefferies Financial Group

Laboratory Co. of America (NYSE:LH) had its target price upped by stock analysts at Jefferies Financial Group from $245.00 to $265.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 18.29% from the company’s previous close.

A number of other research firms also recently commented on LH. JPMorgan Chase & Co. cut their price objective on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Truist Financial lifted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Evercore ISI increased their price objective on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 9th. Robert W. Baird upped their price target on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Barclays raised their price objective on Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $252.42.

Laboratory Co. of America Trading Up 0.8 %

Shares of LH stock traded up $1.80 during trading hours on Monday, hitting $224.02. 157,927 shares of the company were exchanged, compared to its average volume of 681,654. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $238.46. The firm has a fifty day moving average of $222.74 and a 200 day moving average of $211.50. The firm has a market cap of $18.88 billion, a PE ratio of 44.94, a PEG ratio of 1.68 and a beta of 1.06. 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 (NYSE:LH) last announced its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. Laboratory Co. of America’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $3.42 EPS. Analysts expect that Laboratory Co. of America will post 14.67 earnings per share for the current year.

Insider Buying and Selling at Laboratory Co. of America

In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $7,008,423.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America 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 completion of the transaction, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the sale, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. 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 in the last three months. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Laboratory Co. of America

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Laboratory Co. of America by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after purchasing an additional 2,934 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Laboratory Co. of America by 3.0% during the fourth quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock valued at $264,396,000 after acquiring an additional 33,493 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Laboratory Co. of America by 17.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after acquiring an additional 14,708 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after acquiring an additional 17,156 shares during the period. Finally, Bank of Nova Scotia grew its position in Laboratory Co. of America by 1,715.7% in the 4th quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock worth $39,814,000 after purchasing an additional 165,528 shares during the last quarter. 95.94% of the stock is 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).