Laboratory Co. of America (NYSE:LH) PT Raised to $282.00 at Robert W. Baird

Laboratory Co. of America (NYSE:LH) had its price objective upped by investment analysts at Robert W. Baird from $278.00 to $282.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s target price points to a potential upside of 26.90% from the company’s current price.

Several other research analysts have also recently weighed in on LH. UBS Group boosted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays boosted their price objective on Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Evercore ISI upped their price target on Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a research report on Tuesday, July 9th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Finally, Truist Financial upped their price target on 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. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $251.27.

Laboratory Co. of America Stock Down 1.1 %

LH stock opened at $222.22 on Friday. The stock’s fifty day simple moving average is $222.74 and its two-hundred day simple moving average is $211.54. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Laboratory Co. of America has a 1-year low of $191.97 and a 1-year high of $238.46. The stock has a market cap of $18.73 billion, a P/E ratio of 44.71, a P/E/G ratio of 1.68 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the firm earned $3.42 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. Analysts expect that Laboratory Co. of America will post 14.67 EPS for the current year.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the transaction, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,679 shares of company stock worth $6,716,306. 0.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Laboratory Co. of America

Several institutional investors have recently modified their holdings of LH. Bank of New York Mellon Corp increased its position in shares of Laboratory Co. of America by 135.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after purchasing an additional 924,881 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Laboratory Co. of America by 58.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after purchasing an additional 597,571 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Laboratory Co. of America by 25.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock valued at $396,771,000 after purchasing an additional 395,197 shares during the last quarter. Select Equity Group L.P. purchased a new stake in Laboratory Co. of America during the 2nd quarter valued at about $73,928,000. Finally, Veritas Investment Partners UK Ltd. boosted its holdings in Laboratory Co. of America by 32.5% during the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock valued at $259,133,000 after acquiring an additional 279,628 shares during the period. 95.94% of the stock is currently owned by institutional investors.

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).