Laboratory Co. of America (NYSE:LH) PT Lowered to $255.00

Laboratory Co. of America (NYSE:LH) had its price target dropped by Truist Financial from $270.00 to $255.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Truist Financial’s target price points to a potential upside of 28.58% from the company’s current price.

Other equities analysts have also issued reports about the company. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a report on Monday, March 25th. SVB Leerink began coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Evercore ISI began coverage on shares of Laboratory Co. of America in a report on Friday, February 9th. They issued an “in-line” rating and a $240.00 target price on the stock. Finally, Robert W. Baird decreased their price objective on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.44.

Laboratory Co. of America Stock Performance

LH stock traded down $0.03 during mid-day trading on Friday, reaching $198.32. The company had a trading volume of 329,924 shares, compared to its average volume of 750,595. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $212.06 and its two-hundred day simple moving average is $214.69. Laboratory Co. of America has a one year low of $174.20 and a one year high of $234.09. The stock has a market capitalization of $16.68 billion, a P/E ratio of 42.55, a P/E/G ratio of 1.56 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping the consensus estimate of $3.46 by $0.22. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.82 earnings per share. Research analysts anticipate that Laboratory Co. of America will post 14.84 EPS for the current year.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $760,515.00. Following the completion of the transaction, the chief marketing officer now directly owns 3,975 shares of the company’s stock, valued at $863,727.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total value of $53,668.65. Following the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Amy B. Summy sold 3,500 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.29, for a total value of $760,515.00. Following the transaction, the chief marketing officer now owns 3,975 shares of the company’s stock, valued at approximately $863,727.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,305 shares of company stock valued at $11,761,059. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Laboratory Co. of America

A number of hedge funds have recently modified their holdings of LH. Wellington Management Group LLP grew its stake in shares of Laboratory Co. of America by 20.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock valued at $500,033,000 after buying an additional 424,684 shares during the period. Morgan Stanley boosted its position in Laboratory Co. of America by 102.6% in the 3rd quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after buying an additional 1,123,755 shares during the period. Lazard Asset Management LLC grew its position in Laboratory Co. of America by 28.0% during the 3rd quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock worth $444,821,000 after purchasing an additional 483,878 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Laboratory Co. of America by 58.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock worth $352,563,000 after acquiring an additional 597,571 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in Laboratory Co. of America by 644.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock worth $257,522,000 after buying an additional 1,108,776 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

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).