Laboratory Co. of America (NYSE:LH) Price Target Raised to $230.00 at Deutsche Bank Aktiengesellschaft

Laboratory Co. of America (NYSE:LH) had its target price increased by Deutsche Bank Aktiengesellschaft from $220.00 to $230.00 in a research report released on Friday, Benzinga reports. The firm currently has a hold rating on the medical research company’s stock.

A number of other equities research analysts have also recently commented on LH. Barclays increased their price target on Laboratory Co. of America from $213.00 to $249.00 and gave the company an equal weight rating in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Laboratory Co. of America from $261.00 to $243.00 and set an overweight rating for the company in a research report on Thursday, May 30th. StockNews.com downgraded shares of Laboratory Co. of America from a buy rating to a hold rating in a research report on Tuesday, June 4th. Evercore ISI raised their price target on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the stock an in-line rating in a report on Tuesday, July 9th. Finally, Truist Financial boosted their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a buy rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $247.79.

Laboratory Co. of America Stock Up 1.1 %

Laboratory Co. of America stock traded up $2.61 during trading hours on Friday, reaching $236.00. The stock had a trading volume of 1,194,681 shares, compared to its average volume of 600,207. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week high of $238.46. The company has a market cap of $19.89 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 1.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The business’s 50 day moving average price is $205.23 and its 200-day moving average price is $210.54.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the prior year, the company posted $3.42 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Laboratory Co. of America will post 14.84 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of Laboratory Co. of America

Several institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Laboratory Co. of America in the 4th quarter valued at $291,045,000. Bank of New York Mellon Corp lifted its stake in shares of Laboratory Co. of America by 135.0% in the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock worth $327,616,000 after buying an additional 924,881 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Laboratory Co. of America by 58.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock worth $352,563,000 after buying an additional 597,571 shares in the last quarter. Veritas Investment Partners UK Ltd. boosted its position in Laboratory Co. of America by 32.5% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock worth $259,133,000 after acquiring an additional 279,628 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Laboratory Co. of America by 2,750.2% in the 4th quarter. Public Sector Pension Investment Board now owns 270,483 shares of the medical research company’s stock worth $61,478,000 after purchasing an additional 260,993 shares in the last quarter. Institutional investors and hedge funds own 95.94% 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 (Dx) and Biopharma Laboratory Services (BLS).