Laboratory Co. of America (NYSE:LH) PT Raised to $261.00

Laboratory Co. of America (NYSE:LH) had its target price lifted by JPMorgan Chase & Co. from $259.00 to $261.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com started coverage on shares of Laboratory Co. of America in a report on Thursday, October 5th. They issued a hold rating for the company. Credit Suisse Group decreased their price target on shares of Laboratory Co. of America from $247.41 to $231.00 and set an outperform rating for the company in a research note on Wednesday, August 2nd. UBS Group decreased their price target on shares of Laboratory Co. of America from $255.00 to $250.00 in a research note on Monday, September 18th. Bank of America decreased their price target on shares of Laboratory Co. of America from $238.00 to $230.00 and set a buy rating for the company in a research note on Thursday, September 21st. Finally, Mizuho decreased their price target on shares of Laboratory Co. of America from $257.00 to $230.00 and set a buy rating for the company in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Laboratory Co. of America presently has a consensus rating of Moderate Buy and a consensus price target of $243.67.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $211.10 on Friday. The company has a market capitalization of $17.92 billion, a price-to-earnings ratio of 28.22 and a beta of 1.07. Laboratory Co. of America has a 12 month low of $174.20 and a 12 month high of $222.33. The firm’s 50-day moving average is $203.45 and its 200 day moving average is $212.67. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.57.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, October 26th. The medical research company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.37 by $0.01. Laboratory Co. of America had a net margin of 4.88% and a return on equity of 14.09%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company posted $4.68 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. Research analysts predict that Laboratory Co. of America will post 13.58 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 8th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $2.88 annualized dividend and a yield of 1.36%. Laboratory Co. of America’s dividend payout ratio is currently 38.50%.

Insider Activity at Laboratory Co. of America

In related news, CAO Peter J. Wilkinson sold 1,384 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $210.71, for a total value of $291,622.64. Following the sale, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at $439,751.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LH. WealthPLAN Partners LLC bought a new position in shares of Laboratory Co. of America during the first quarter valued at approximately $25,000. Eagle Bay Advisors LLC acquired a new stake in Laboratory Co. of America in the second quarter valued at approximately $29,000. Provence Wealth Management Group acquired a new stake in Laboratory Co. of America in the third quarter valued at approximately $29,000. Tradewinds Capital Management LLC acquired a new stake in Laboratory Co. of America in the third quarter valued at approximately $34,000. Finally, Clear Street Markets LLC boosted its stake in Laboratory Co. of America by 93.3% in the first quarter. Clear Street Markets LLC now owns 174 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.

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 and Labcorp Drug Development.