Laboratory Co. of America (NYSE:LH) Price Target Raised to $282.00

Laboratory Co. of America (NYSE:LH) had its price objective increased by equities research analysts at Robert W. Baird from $278.00 to $282.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s target price points to a potential upside of 25.56% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Evercore ISI upped their target price 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. Truist Financial raised their price target on 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. Finally, Bank of America upped their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $251.27.

Laboratory Co. of America Stock Performance

NYSE LH opened at $224.59 on Friday. The company’s 50 day simple moving average is $222.42 and its two-hundred day simple moving average is $211.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $238.46. The stock has a market capitalization of $18.93 billion, a PE ratio of 45.19, a P/E/G ratio of 1.68 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.16. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $3.42 earnings per share. Analysts predict that Laboratory Co. of America will post 14.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction 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 owns 31,289 shares in the company, valued at $7,008,423.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the sale, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction that occurred 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. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,679 shares of company stock worth $6,716,306. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in Laboratory Co. of America in the second quarter worth about $2,268,000. Delphi Management Inc. MA boosted its stake in Laboratory Co. of America by 134.9% during the 2nd quarter. Delphi Management Inc. MA now owns 8,246 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 4,736 shares during the last quarter. 3Chopt Investment Partners LLC bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth $1,318,000. EP Wealth Advisors LLC raised its stake in shares of Laboratory Co. of America by 27.0% in the second quarter. EP Wealth Advisors LLC now owns 1,226 shares of the medical research company’s stock worth $250,000 after purchasing an additional 261 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in shares of Laboratory Co. of America by 25.3% during the second quarter. Brandes Investment Partners LP now owns 494,068 shares of the medical research company’s stock valued at $100,609,000 after purchasing an additional 99,912 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

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).