Brokerages Set Laboratory Co. of America Holdings (NYSE:LH) Target Price at $247.42

Laboratory Co. of America Holdings (NYSE:LH) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $247.42.

Several research analysts have recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $261.00 to $277.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. UBS Group boosted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on shares of 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. Truist Financial lifted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s 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 transaction, the executive vice president now owns 3,670 shares in the company, valued at $833,273.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares of the company’s stock, valued at $833,273.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the sale, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Laboratory Co. of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC purchased a new stake in shares of Laboratory Co. of America during the 1st quarter worth approximately $30,000. Industrial Alliance Investment Management Inc. purchased a new stake in Laboratory Co. of America in the second quarter valued at $27,000. Innealta Capital LLC acquired a new position in Laboratory Co. of America in the second quarter valued at $32,000. Family Firm Inc. purchased a new position in shares of Laboratory Co. of America during the second quarter worth about $37,000. Finally, McClarren Financial Advisors Inc. increased its position in shares of Laboratory Co. of America by 313.2% during the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after purchasing an additional 166 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 1.4 %

Shares of Laboratory Co. of America stock opened at $228.80 on Friday. 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 stock’s 50 day simple moving average is $212.74 and its 200-day simple moving average is $210.47. The stock has a market cap of $19.29 billion, a P/E ratio of 46.04, a P/E/G ratio of 1.76 and a beta of 1.05. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $238.46.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.42 earnings per share. Analysts predict that Laboratory Co. of America will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

About Laboratory Co. of America

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).