Laboratory Co. of America (NYSE:LH) Upgraded to Outperform at Evercore ISI

Laboratory Co. of America (NYSE:LH) was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued to investors on Tuesday,Finviz reports. The firm presently has a $265.00 price target on the medical research company’s stock, up from their previous price target of $260.00. Evercore ISI’s price target indicates a potential upside of 15.42% from the stock’s current price.

Several other research analysts also recently commented on the company. Morgan Stanley lifted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Piper Sandler lifted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $260.54.

Laboratory Co. of America Stock Performance

NYSE LH opened at $229.59 on Tuesday. The firm has a market capitalization of $19.20 billion, a P/E ratio of 44.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average price is $234.15 and its two-hundred day moving average price is $223.97. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $247.99.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the firm earned $3.38 EPS. Laboratory Co. of America’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts anticipate that Laboratory Co. of America will post 14.52 EPS for the current year.

Insider Activity at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 3,672 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total value of $877,277.52. Following the completion of the transaction, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. This trade represents a 45.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,572 shares of company stock valued at $5,910,209. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Laboratory Co. of America

Large investors have recently modified their holdings of the business. SouthState Corp bought a new position in Laboratory Co. of America during the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new position in shares of Laboratory Co. of America in the third quarter worth approximately $29,000. Riverview Trust Co boosted its holdings in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 107 shares during the last quarter. Concord Wealth Partners increased its position in Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares during the period. Finally, Kennebec Savings Bank bought a new position in Laboratory Co. of America during the 3rd quarter worth approximately $42,000. 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.