Piper Sandler Issues Positive Forecast for Laboratory Co. of America (NYSE:LH) Stock Price

Laboratory Co. of America (NYSE:LH) had its target price boosted by Piper Sandler from $235.00 to $240.00 in a research report released on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the medical research company’s stock.

LH has been the subject of a number of other research reports. Barclays lifted their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Robert W. Baird increased their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Bank of America lifted their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, UBS Group increased their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $255.92.

Laboratory Co. of America Trading Down 1.0 %

Laboratory Co. of America stock opened at $228.27 on Monday. Laboratory Co. of America has a one year low of $191.97 and a one year high of $239.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a market cap of $19.17 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The stock has a 50-day moving average of $222.67 and a two-hundred day moving average of $212.98.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business earned $3.38 EPS. Laboratory Co. of America’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Laboratory Co. of America will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.26%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,679 shares of company stock valued at $6,946,306. 0.85% of the stock is owned by company insiders.

Institutional Trading of Laboratory Co. of America

A number of institutional investors have recently made changes to their positions in LH. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter worth about $29,000. Pathway Financial Advisers LLC acquired a new stake in Laboratory Co. of America in the 1st quarter valued at about $30,000. Industrial Alliance Investment Management Inc. purchased a new position in Laboratory Co. of America in the 2nd quarter worth approximately $27,000. Innealta Capital LLC acquired a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $32,000. Finally, Riverview Trust Co grew its position in shares of Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.