Laboratory Co. of America (NYSE:LH) Given New $250.00 Price Target at UBS Group

Laboratory Co. of America (NYSE:LH) had its target price lowered by UBS Group from $255.00 to $250.00 in a research note issued to investors on Monday, FlyOnTheWall reports.

Other equities research analysts also recently issued research reports about the stock. Mizuho restated a buy rating and issued a $257.00 price target on shares of Laboratory Co. of America in a research report on Friday. Truist Financial reissued a buy rating and set a $270.00 price objective on shares of Laboratory Co. of America in a research report on Friday. StockNews.com began coverage on Laboratory Co. of America in a research note on Sunday, September 10th. They set a hold rating on the stock. Credit Suisse Group lowered their price objective on Laboratory Co. of America from $247.41 to $231.00 and set an outperform rating on the stock in a research note on Wednesday, August 2nd. Finally, Wells Fargo & Company decreased their price target on Laboratory Co. of America from $290.00 to $270.00 and set an overweight rating on the stock in a research report on Monday, August 14th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Laboratory Co. of America presently has an average rating of Moderate Buy and an average price target of $246.00.

Laboratory Co. of America Price Performance

LH stock opened at $201.17 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.12 and a current ratio of 2.35. Laboratory Co. of America has a 1 year low of $166.93 and a 1 year high of $222.33. The firm has a market cap of $17.82 billion, a P/E ratio of 21.70 and a beta of 1.08. The stock has a 50-day simple moving average of $212.29 and a 200-day simple moving average of $220.17.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, July 27th. The medical research company reported $3.42 EPS for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.05). Laboratory Co. of America had a return on equity of 14.62% and a net margin of 5.89%. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business earned $4.96 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that Laboratory Co. of America will post 13.68 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 8th. Investors of record on Tuesday, August 8th were issued a $0.72 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $2.88 annualized dividend and a yield of 1.43%. Laboratory Co. of America’s payout ratio is 31.07%.

Insider Activity at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 212 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $240.00, for a total transaction of $50,880.00. Following the transaction, the executive vice president now owns 7,605 shares in the company, valued at $1,825,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kerrii B. Anderson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $211.57, for a total transaction of $1,057,850.00. Following the completion of the sale, the director now directly owns 15,275 shares of the company’s stock, valued at $3,231,731.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 212 shares of the company’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $240.00, for a total transaction of $50,880.00. Following the completion of the sale, the executive vice president now directly owns 7,605 shares of the company’s stock, valued at $1,825,200. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

Institutional Trading of Laboratory Co. of America

Institutional investors and hedge funds have recently bought and sold shares of the company. Zions Bancorporation N.A. raised its stake in Laboratory Co. of America by 45.6% in the fourth quarter. Zions Bancorporation N.A. now owns 131 shares of the medical research company’s stock valued at $31,000 after buying an additional 41 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Laboratory Co. of America by 2.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,151 shares of the medical research company’s stock worth $494,000 after purchasing an additional 46 shares during the last quarter. Boyar Asset Management Inc. raised its holdings in Laboratory Co. of America by 1.2% in the 2nd quarter. Boyar Asset Management Inc. now owns 3,756 shares of the medical research company’s stock valued at $906,000 after acquiring an additional 46 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Laboratory Co. of America by 1.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,843 shares of the medical research company’s stock worth $686,000 after acquiring an additional 47 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Laboratory Co. of America by 0.6% in the 4th quarter. Neuberger Berman Group LLC now owns 7,834 shares of the medical research company’s stock valued at $1,845,000 after buying an additional 48 shares during the period. 89.37% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Company Profile

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 and Labcorp Drug Development.