Brokerages Set Laboratory Co. of America Holdings (NYSE:LH) Price Target at $302.88

Shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) have been given an average rating of “Buy” by the eleven research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $302.88.

LH has been the subject of several recent research reports. Credit Suisse Group decreased their price target on shares of Laboratory Co. of America from $344.00 to $312.00 in a research report on Monday, May 2nd. Citigroup upped their price target on shares of Laboratory Co. of America from $340.00 to $350.00 in a research report on Friday, February 11th. Wells Fargo & Company decreased their price objective on shares of Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating for the company in a research report on Monday, April 25th. Truist Financial decreased their price objective on shares of Laboratory Co. of America from $350.00 to $320.00 in a research report on Friday, April 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Laboratory Co. of America from $294.00 to $265.00 in a research report on Tuesday, May 3rd.

In other Laboratory Co. of America news, EVP Mark S. Schroeder sold 2,356 shares of the firm’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $277.11, for a total value of $652,871.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director R Sanders Williams sold 572 shares of the firm’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $272.98, for a total transaction of $156,144.56. The disclosure for this sale can be found here. Insiders sold 3,384 shares of company stock valued at $931,020 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC bought a new position in shares of Laboratory Co. of America in the first quarter valued at $25,000. Consolidated Planning Corp bought a new position in shares of Laboratory Co. of America during the third quarter valued at about $26,000. Tcwp LLC bought a new position in shares of Laboratory Co. of America during the first quarter valued at about $26,000. Washington Trust Advisors Inc. lifted its position in shares of Laboratory Co. of America by 352.2% during the first quarter. Washington Trust Advisors Inc. now owns 104 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Finally, Arrow Financial Corp lifted its position in shares of Laboratory Co. of America by 100.0% during the fourth quarter. Arrow Financial Corp now owns 100 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LH opened at $244.62 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.81. Laboratory Co. of America has a one year low of $232.01 and a one year high of $317.17. The firm has a 50 day simple moving average of $263.34 and a 200 day simple moving average of $276.67. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 11.23 and a beta of 1.04.

Laboratory Co. of America (NYSE:LHGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical research company reported $6.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.88 by $0.23. Laboratory Co. of America had a net margin of 13.24% and a return on equity of 23.84%. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the company posted $8.79 EPS. The company’s revenue was down 7.1% on a year-over-year basis. As a group, analysts expect that Laboratory Co. of America will post 19.9 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, May 18th.

Laboratory Co. of America Company Profile (Get Rating)

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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