Robert W. Baird Raises Laboratory Co. of America (NYSE:LH) Price Target to $261.00

Laboratory Co. of America (NYSE:LHFree Report) had its price objective hoisted by Robert W. Baird from $258.00 to $261.00 in a research report report published on Monday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other equities analysts have also issued reports on the stock. Argus upgraded shares of Laboratory Co. of America from a hold rating to a buy rating and set a $250.00 target price on the stock in a report on Monday, March 25th. Truist Financial decreased their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a buy rating for the company in a research note on Friday, April 26th. StockNews.com downgraded shares of Laboratory Co. of America from a buy rating to a hold rating in a research note on Tuesday, June 4th. Barclays decreased their price target on shares of 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, April 26th. Finally, JPMorgan Chase & Co. decreased 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $241.29.

View Our Latest Research Report on LH

Laboratory Co. of America Price Performance

LH stock opened at $206.21 on Monday. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 1.53 and a beta of 1.05. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America has a 12-month low of $191.97 and a 12-month high of $234.09. The company’s fifty day simple moving average is $202.34 and its 200 day simple moving average is $211.82.

Laboratory Co. of America (NYSE:LHGet Free Report) last released its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.20. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. Laboratory Co. of America’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.82 earnings per share. On average, analysts expect that Laboratory Co. of America will post 14.87 earnings per share for the current year.

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 company’s stock in a transaction dated Tuesday, May 14th. The shares were 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 of the company’s stock, valued at approximately $1,188,448.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 2,439 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $204.33, for a total value of $498,360.87. Following the completion of the sale, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at approximately $426,436.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total transaction of $421,660.00. Following the completion of the sale, the executive vice president now directly owns 5,637 shares of the company’s stock, valued at $1,188,448.71. The disclosure for this sale can be found here. Insiders sold a total of 4,939 shares of company stock valued at $1,021,078 over the last three months. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BDF Gestion purchased a new position in Laboratory Co. of America in the second quarter valued at about $2,512,000. First National Bank of Mount Dora Trust Investment Services lifted its stake in shares of Laboratory Co. of America by 31.4% during the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 8,529 shares of the medical research company’s stock valued at $1,736,000 after buying an additional 2,039 shares in the last quarter. Jamison Private Wealth Management Inc. purchased a new stake in shares of Laboratory Co. of America during the 2nd quarter valued at approximately $168,000. Triangle Securities Wealth Management lifted its stake in shares of Laboratory Co. of America by 9.6% during the 2nd quarter. Triangle Securities Wealth Management now owns 4,072 shares of the medical research company’s stock valued at $829,000 after buying an additional 355 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Laboratory Co. of America by 31.0% during the 2nd quarter. CWM LLC now owns 5,039 shares of the medical research company’s stock valued at $1,025,000 after buying an additional 1,193 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

About Laboratory Co. of America

(Get Free Report)

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).

See Also

Analyst Recommendations for Laboratory Co. of America (NYSE:LH)

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