Laboratory Co. of America (NYSE:LH) Stock Rating Lowered by StockNews.com

Laboratory Co. of America (NYSE:LH) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other research analysts also recently issued reports on the stock. Evercore ISI dropped their target price on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. Bank of America upped their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays raised their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday. Piper Sandler assumed coverage on Laboratory Co. of America in a research report on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 target price for the company. Finally, Truist Financial increased their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.54.

Laboratory Co. of America Stock Down 0.6 %

Laboratory Co. of America stock opened at $228.63 on Friday. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 1.70 and a beta of 1.05. Laboratory Co. of America has a 52-week low of $191.97 and a 52-week high of $239.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. The firm has a 50 day moving average price of $222.60 and a two-hundred day moving average price of $212.39.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm earned $3.38 earnings per share. Laboratory Co. of America’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts predict that Laboratory Co. of America will post 14.55 EPS for the current year.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction 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 in the company, valued at $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares in the company, valued at $3,156,060. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,679 shares of company stock valued at $6,946,306 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Laboratory Co. of America

Several hedge funds have recently added to or reduced their stakes in LH. Industrial Alliance Investment Management Inc. purchased a new position in shares of Laboratory Co. of America during the 2nd quarter valued at $27,000. Horizon Bancorp Inc. IN bought a new stake in Laboratory Co. of America in the 3rd quarter valued at about $29,000. Pathway Financial Advisers LLC purchased a new stake in Laboratory Co. of America during the first quarter valued at about $30,000. Innealta Capital LLC bought a new position in Laboratory Co. of America during the second quarter worth about $32,000. Finally, Family Firm Inc. purchased a new position in shares of Laboratory Co. of America in the second quarter worth about $37,000. Institutional investors own 95.94% of the company’s stock.

About Laboratory Co. of America

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.