Argus Lowers Laboratory Co. of America (NYSE:LH) to Hold

Argus downgraded shares of Laboratory Co. of America (NYSE:LHGet Rating) from a buy rating to a hold rating in a research note issued to investors on Monday morning, MarketBeat reports.

Other analysts have also recently issued reports about the stock. Robert W. Baird boosted their price objective on shares of Laboratory Co. of America from $295.00 to $297.00 and gave the stock an outperform rating in a research note on Thursday, August 4th. Credit Suisse Group reduced their price objective on shares of Laboratory Co. of America to $308.00 in a research note on Tuesday, August 9th. Finally, Morgan Stanley restated an overweight rating and issued a $300.00 price objective on shares of Laboratory Co. of America in a research note on Monday, August 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $299.75.

Laboratory Co. of America Price Performance

NYSE LH opened at $213.03 on Monday. The company has a quick ratio of 1.74, a current ratio of 1.90 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $19.75 billion, a PE ratio of 10.19 and a beta of 1.06. The company has a 50 day moving average price of $240.94 and a two-hundred day moving average price of $248.27. Laboratory Co. of America has a 12-month low of $210.40 and a 12-month high of $317.17.

Laboratory Co. of America (NYSE:LHGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The medical research company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.29. Laboratory Co. of America had a net margin of 12.67% and a return on equity of 22.39%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the company earned $6.13 earnings per share. Laboratory Co. of America’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts predict that Laboratory Co. of America will post 20.26 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Thursday, August 18th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Wednesday, August 17th. Laboratory Co. of America’s payout ratio is presently 13.78%.

Insider Activity at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 32,100 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $253.94, for a total value of $8,151,474.00. Following the completion of the sale, the chief financial officer now owns 52,158 shares in the company, valued at $13,245,002.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 32,100 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $253.94, for a total transaction of $8,151,474.00. Following the completion of the transaction, the chief financial officer now owns 52,158 shares in the company, valued at $13,245,002.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Peter J. Wilkinson sold 2,576 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $258.40, for a total transaction of $665,638.40. Following the transaction, the chief accounting officer now owns 1,887 shares of the company’s stock, valued at approximately $487,600.80. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Seeyond lifted its stake in Laboratory Co. of America by 0.6% during the second quarter. Seeyond now owns 6,677 shares of the medical research company’s stock worth $1,564,000 after purchasing an additional 39 shares during the period. RMB Capital Management LLC raised its stake in shares of Laboratory Co. of America by 4.9% in the first quarter. RMB Capital Management LLC now owns 879 shares of the medical research company’s stock valued at $232,000 after acquiring an additional 41 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Laboratory Co. of America by 3.8% in the first quarter. Checchi Capital Advisers LLC now owns 1,122 shares of the medical research company’s stock valued at $296,000 after acquiring an additional 41 shares during the last quarter. New Potomac Partners LLC raised its stake in shares of Laboratory Co. of America by 0.4% in the second quarter. New Potomac Partners LLC now owns 10,579 shares of the medical research company’s stock valued at $2,479,000 after acquiring an additional 42 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in shares of Laboratory Co. of America by 3.0% in the fourth quarter. Wetherby Asset Management Inc. now owns 1,493 shares of the medical research company’s stock valued at $469,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Laboratory Co. of America Company Profile

(Get Rating)

Laboratory Corporation of America Holdings operates as a global 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 Labcorp Drug Development (DD).

Further Reading

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

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