Laboratory Co. of America (NYSE:LH) Price Target Raised to $271.00 at Bank of America

Laboratory Co. of America (NYSE:LH) had its price objective boosted by equities researchers at Bank of America from $262.00 to $271.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Bank of America‘s target price suggests a potential upside of 16.44% from the company’s current price.

A number of other analysts also recently weighed in on the company. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Piper Sandler boosted their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $257.67.

Laboratory Co. of America Price Performance

LH traded up $0.89 on Friday, hitting $232.73. 59,258 shares of the stock were exchanged, compared to its average volume of 659,492. The business has a 50-day moving average of $230.40 and a two-hundred day moving average of $219.97. Laboratory Co. of America has a 12 month low of $191.97 and a 12 month high of $247.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a market capitalization of $19.47 billion, a price-to-earnings ratio of 44.93, a PEG ratio of 1.89 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. Laboratory Co. of America’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $3.38 earnings per share. Sell-side analysts forecast that Laboratory Co. of America will post 14.52 EPS for the current fiscal year.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the transaction, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,572 shares of company stock valued at $5,910,209. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Several hedge funds have recently modified their holdings of the company. Industrial Alliance Investment Management Inc. purchased a new position in shares of Laboratory Co. of America in the 2nd quarter worth about $27,000. SouthState Corp purchased a new position in Laboratory Co. of America in the third quarter valued at about $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at approximately $29,000. Innealta Capital LLC purchased a new stake in shares of Laboratory Co. of America during the 2nd quarter worth approximately $32,000. Finally, Family Firm Inc. bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth approximately $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.