Brokerages Set Laboratory Co. of America Holdings (NYSE:LH) Price Target at $258.62

Shares of Laboratory Co. of America Holdings (NYSE:LH) have received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $258.62.

LH has been the subject of several analyst reports. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Piper Sandler increased their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Morgan Stanley lifted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI lowered their price target on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $275.00 target price (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th.

Insiders Place Their Bets

In related news, CMO Amy B. Summy sold 3,672 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the transaction, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. The trade was a 45.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,572 shares of company stock valued at $5,910,209. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Several large investors have recently modified their holdings of LH. &PARTNERS acquired a new position in shares of Laboratory Co. of America during the second quarter worth about $478,000. Family Firm Inc. acquired a new position in Laboratory Co. of America during the 2nd quarter worth approximately $37,000. Atlantic Union Bankshares Corp acquired a new position in Laboratory Co. of America during the 2nd quarter worth approximately $264,000. Tempus Wealth Planning LLC raised its stake in shares of Laboratory Co. of America by 8.1% during the 2nd quarter. Tempus Wealth Planning LLC now owns 1,747 shares of the medical research company’s stock worth $355,000 after buying an additional 131 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in shares of Laboratory Co. of America by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 10,050 shares of the medical research company’s stock valued at $2,045,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

LH opened at $228.61 on Friday. The firm has a market capitalization of $19.12 billion, a PE ratio of 44.22, a PEG ratio of 1.91 and a beta of 1.05. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America has a twelve month low of $191.97 and a twelve month high of $247.99. The firm’s 50-day moving average price is $232.13 and its 200 day moving average price is $221.55.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the business earned $3.38 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that Laboratory Co. of America will post 14.52 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was 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%.

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.