Laboratory Co. of America Holdings (NYSE:LH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Laboratory Co. of America Holdings (NYSE:LHGet Rating) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $300.71.

Several analysts recently issued reports on the company. Truist Financial lowered their target price on Laboratory Co. of America from $350.00 to $320.00 in a research note on Friday, April 29th. Credit Suisse Group lowered their target price on Laboratory Co. of America from $344.00 to $312.00 in a research note on Monday, May 2nd. StockNews.com assumed coverage on Laboratory Co. of America in a research note on Thursday, March 31st. They set a “buy” rating for the company. Wells Fargo & Company lowered their target price on Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Finally, Morgan Stanley lowered their target price on Laboratory Co. of America from $360.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, May 25th.

Laboratory Co. of America Stock Up 1.2 %

Shares of NYSE LH opened at $252.38 on Friday. Laboratory Co. of America has a 12-month low of $212.40 and a 12-month high of $317.17. The company has a market cap of $23.40 billion, a P/E ratio of 11.58 and a beta of 1.02. The company has a current ratio of 1.98, a quick ratio of 1.81 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $240.52 and a 200 day moving average price of $257.43.

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 return on equity of 23.84% and a net margin of 13.24%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm earned $8.79 EPS. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. Research analysts anticipate that Laboratory Co. of America will post 19.66 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Thursday, August 18th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $2.88 annualized dividend and a dividend yield of 1.14%. Laboratory Co. of America’s payout ratio is 13.22%.

Hedge Funds Weigh In On Laboratory Co. of America

Several large investors have recently modified their holdings of the stock. Condor Capital Management lifted its holdings in Laboratory Co. of America by 0.4% in the fourth quarter. Condor Capital Management now owns 9,835 shares of the medical research company’s stock worth $3,090,000 after acquiring an additional 37 shares during the last quarter. RMB Capital Management LLC lifted its holdings in Laboratory Co. of America by 4.9% in the first quarter. RMB Capital Management LLC now owns 879 shares of the medical research company’s stock worth $232,000 after acquiring an additional 41 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in Laboratory Co. of America by 3.8% in the first quarter. Checchi Capital Advisers LLC now owns 1,122 shares of the medical research company’s stock worth $296,000 after acquiring an additional 41 shares during the last quarter. Trust Investment Advisors raised its holdings in shares of Laboratory Co. of America by 1.8% during the fourth quarter. Trust Investment Advisors now owns 2,395 shares of the medical research company’s stock valued at $753,000 after buying an additional 42 shares during the last quarter. Finally, New Potomac Partners LLC raised its holdings in shares of Laboratory Co. of America by 0.4% during the second quarter. New Potomac Partners LLC now owns 10,579 shares of the medical research company’s stock valued at $2,479,000 after buying an additional 42 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

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.

Recommended Stories

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

Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.