Laboratory Co. of America (NYSE:LH) Price Target Raised to $215.00

Laboratory Co. of America (NYSE:LH) had its target price lifted by Evercore ISI from $210.00 to $215.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the medical research company’s stock.

A number of other equities analysts have also commented on LH. Barclays cut their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an equal weight rating on the stock in a report on Friday, April 26th. Argus upgraded shares of Laboratory Co. of America from a hold rating to a buy rating and set a $250.00 target price on the stock in a research note on Monday, March 25th. Robert W. Baird upped their target price on shares of Laboratory Co. of America from $258.00 to $261.00 and gave the company an outperform rating in a research note on Monday. StockNews.com lowered shares of Laboratory Co. of America from a buy rating to a hold rating in a research note on Tuesday, June 4th. Finally, Truist Financial cut their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a buy rating on the stock in a research note on Friday, April 26th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $241.29.

Laboratory Co. of America Stock Up 2.9 %

Shares of Laboratory Co. of America stock opened at $206.21 on Tuesday. The company has a fifty day moving average price of $202.34 and a 200 day moving average price of $211.82. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Laboratory Co. of America has a twelve month low of $191.97 and a twelve month high of $234.09. The stock has a market cap of $17.38 billion, a price-to-earnings ratio of 41.49, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the company earned $3.82 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Laboratory Co. of America will post 14.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the transaction, the executive vice president now owns 5,637 shares in the company, valued at approximately $1,188,448.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the transaction, the executive vice president now directly owns 5,637 shares in the company, valued at $1,188,448.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 250 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total transaction of $50,025.00. Following the completion of the transaction, the director now owns 15,722 shares of the company’s stock, valued at $3,145,972.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,939 shares of company stock worth $1,021,078. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC grew its position in Laboratory Co. of America by 1.1% in the fourth quarter. Manchester Capital Management LLC now owns 4,159 shares of the medical research company’s stock worth $945,000 after buying an additional 45 shares during the last quarter. Trust Investment Advisors grew its position in Laboratory Co. of America by 1.8% in the fourth quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock worth $583,000 after buying an additional 46 shares during the last quarter. SP Asset Management LLC grew its position in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 14,992 shares of the medical research company’s stock worth $3,407,000 after buying an additional 46 shares during the last quarter. Unison Advisors LLC grew its position in Laboratory Co. of America by 0.5% in the first quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock worth $2,415,000 after buying an additional 51 shares during the last quarter. Finally, Connecticut Wealth Management LLC grew its position in Laboratory Co. of America by 1.8% in the first quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock worth $649,000 after buying an additional 52 shares during 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).