Laboratory Co. of America (NYSE:LH) PT Lowered to $240.00 at Evercore ISI

Laboratory Co. of America (NYSE:LH) had its price objective cut by Evercore ISI from $250.00 to $240.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an in-line rating on the medical research company’s stock.

Other research analysts also recently issued research reports about the company. UBS Group boosted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company a buy rating in a research note on Friday, August 2nd. Truist Financial boosted their target price on Laboratory Co. of America from $255.00 to $275.00 and gave the company a buy rating in a research note on Friday, August 2nd. Bank of America boosted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a buy rating in a research note on Monday, August 5th. JPMorgan Chase & Co. decreased their price target on Laboratory Co. of America from $261.00 to $243.00 and set an overweight rating for the company in a research note on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a hold rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $254.50.

Laboratory Co. of America Stock Up 0.8 %

LH opened at $222.08 on Tuesday. The stock’s fifty day moving average is $223.34 and its 200-day moving average is $211.67. The company has a market capitalization of $18.72 billion, a PE ratio of 44.68, a P/E/G ratio of 1.74 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. Laboratory Co. of America has a one year low of $191.97 and a one year high of $238.46.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.16. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. Laboratory Co. of America’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.42 earnings per share. On average, equities analysts predict that Laboratory Co. of America will post 14.61 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a dividend of $0.72 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.30%. Laboratory Co. of America’s dividend payout ratio is 57.95%.

Insider Activity at Laboratory Co. of America

In other news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the sale, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at $833,273.50. The disclosure for this sale can be found here. Insiders sold 29,679 shares of company stock valued at $6,716,306 in the last three months. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Laboratory Co. of America by 2.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after acquiring an additional 2,934 shares in the last quarter. Northern Trust Corp lifted its holdings in Laboratory Co. of America by 3.0% during the fourth quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock worth $264,396,000 after acquiring an additional 33,493 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Laboratory Co. of America by 17.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after acquiring an additional 14,708 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Laboratory Co. of America by 283.1% during the first quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after acquiring an additional 17,156 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Laboratory Co. of America by 1,715.7% during the fourth quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock worth $39,814,000 after acquiring an additional 165,528 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).