Laboratory Co. of America (NYSE:LH) PT Lowered to $240.00 at Evercore ISI

Laboratory Co. of America (NYSE:LH) had its price target cut by Evercore ISI from $250.00 to $240.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an in-line rating on the medical research company’s stock.

LH has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their target price on Laboratory Co. of America from $261.00 to $243.00 and set an overweight rating on the stock in a research report on Thursday, May 30th. Robert W. Baird lifted their target price on Laboratory Co. of America from $278.00 to $282.00 and gave the company an outperform rating in a research report on Friday, September 20th. Jefferies Financial Group boosted their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a buy rating in a research report on Monday, September 23rd. StockNews.com raised Laboratory Co. of America from a hold rating to a buy rating in a research report on Tuesday, August 20th. Finally, Barclays boosted their price target 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. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $254.50.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $222.08 on Tuesday. The firm has a market cap of $18.72 billion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth ratio of 1.74 and a beta of 1.06. The stock’s 50-day moving average is $223.34 and its 200-day moving average is $211.67. Laboratory Co. of America has a one year low of $191.97 and a one year high of $238.46. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. Laboratory Co. of America’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.42 earnings per share. Equities analysts predict that Laboratory Co. of America will post 14.61 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, August 29th. Laboratory Co. of America’s payout ratio is 57.95%.

Insider Activity at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the sale, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. The sale was disclosed in a filing with the SEC, which is available at this link. 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 on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the sale, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,679 shares of company stock worth $6,716,306. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC bought a new stake in Laboratory Co. of America during the first quarter worth $30,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Laboratory Co. of America during the second quarter worth $27,000. Innealta Capital LLC acquired a new position in shares of Laboratory Co. of America during the second quarter worth $32,000. Family Firm Inc. acquired a new position in shares of Laboratory Co. of America during the second quarter worth $37,000. Finally, McClarren Financial Advisors Inc. increased its holdings in shares of Laboratory Co. of America by 313.2% during the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after buying an additional 166 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

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).