Laboratory Co. of America (NYSE:LH) Price Target Cut to $255.00 by Analysts at Truist Financial

Laboratory Co. of America (NYSE:LH) had its price target decreased by Truist Financial from $270.00 to $255.00 in a research note released on Friday, Benzinga reports. Truist Financial currently has a buy rating on the medical research company’s stock.

A number of other research firms also recently issued reports on LH. Robert W. Baird decreased their price objective on Laboratory Co. of America from $255.00 to $244.00 and set an outperform rating for the company in a report on Friday. Argus upgraded Laboratory Co. of America from a hold rating to a buy rating and set a $250.00 price objective for the company in a report on Monday, March 25th. Evercore ISI assumed coverage on Laboratory Co. of America in a research note on Friday, February 9th. They issued an in-line rating and a $240.00 price target for the company. TheStreet downgraded Laboratory Co. of America from a b- rating to a c+ rating in a research note on Thursday, February 15th. Finally, Barclays decreased their price target on Laboratory Co. of America from $234.00 to $213.00 and set an equal weight rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $243.14.

Laboratory Co. of America Trading Up 0.0 %

NYSE LH opened at $198.40 on Friday. The firm has a market cap of $16.69 billion, a P/E ratio of 39.92, a P/E/G ratio of 1.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 1.02. The stock’s 50-day moving average is $211.70 and its 200-day moving average is $214.66. Laboratory Co. of America has a one year low of $174.20 and a one year high of $234.09.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.22. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. Laboratory Co. of America’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $3.82 earnings per share. Sell-side analysts anticipate that Laboratory Co. of America will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.88 annualized dividend and a yield of 1.45%. Laboratory Co. of America’s payout ratio is currently 57.95%.

Insider Buying and Selling

In related news, COO Mark S. Schroeder sold 5,048 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the completion of the sale, the chief operating officer now directly owns 5,036 shares of the company’s stock, valued at approximately $1,100,114.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of Laboratory Co. of America stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the transaction, the chief financial officer now directly owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark S. Schroeder sold 5,048 shares of Laboratory Co. of America stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $1,102,735.60. Following the completion of the transaction, the chief operating officer now directly owns 5,036 shares of the company’s stock, valued at $1,100,114.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,305 shares of company stock valued at $11,761,059. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its position in Laboratory Co. of America by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock worth $5,097,000 after acquiring an additional 1,237 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Laboratory Co. of America by 6.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock worth $1,711,000 after buying an additional 484 shares during the period. Handelsinvest Investeringsforvaltning acquired a new position in Laboratory Co. of America during the 4th quarter worth approximately $1,091,000. Cerity Partners LLC raised its stake in shares of Laboratory Co. of America by 8.6% in the fourth quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock worth $14,645,000 after purchasing an additional 5,105 shares during the last quarter. Finally, Duality Advisers LP bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $2,786,000. 95.94% of the stock is owned by institutional investors and hedge funds.

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).