Evercore ISI Trims Laboratory Co. of America (NYSE:LH) Target Price to $240.00

Laboratory Co. of America (NYSE:LH) had its price objective lowered by analysts at Evercore ISI from $250.00 to $240.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s target price suggests a potential upside of 9.22% from the stock’s previous close.

A number of other research analysts have also commented on 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 company a “hold” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on Laboratory Co. of America from $278.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday. Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Truist Financial lifted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $254.50.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH traded down $4.99 during trading on Tuesday, reaching $219.73. The stock had a trading volume of 147,703 shares, compared to its average volume of 680,717. The stock has a fifty day simple moving average of $223.09 and a two-hundred day simple moving average of $211.54. 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 has a 52 week low of $191.97 and a 52 week high of $238.46. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of 44.37, a P/E/G ratio of 1.68 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the company earned $3.42 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, analysts anticipate that Laboratory Co. of America will post 14.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’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 completion of the transaction, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 31,289 shares in the company, valued at $7,008,423.11. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction dated 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 transaction, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,679 shares of company stock worth $6,716,306. 0.85% of the stock is currently owned by insiders.

Institutional Trading of Laboratory Co. of America

A number of institutional investors have recently modified their holdings of the company. Industrial Alliance Investment Management Inc. bought a new stake in shares of Laboratory Co. of America in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new stake in Laboratory Co. of America during the first quarter worth approximately $30,000. Innealta Capital LLC acquired a new stake in shares of Laboratory Co. of America during the 2nd quarter worth $32,000. Family Firm Inc. bought a new position in shares of Laboratory Co. of America in the second quarter worth $37,000. Finally, McClarren Financial Advisors Inc. grew its stake in Laboratory Co. of America by 313.2% during the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after buying an additional 166 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).