Laboratory Co. of America (NYSE:LH) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Laboratory Co. of America (NYSE:LH) from a buy rating to a hold rating in a report published on Friday morning.

Several other equities analysts also recently weighed in on LH. Robert W. Baird raised their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial boosted their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group raised their target price on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Barclays upped their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Evercore ISI reduced their target price on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.54.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $228.63 on Friday. The company has a market cap of $19.27 billion, a P/E ratio of 46.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. Laboratory Co. of America has a one year low of $191.97 and a one year high of $239.50. The business has a fifty day moving average of $222.60 and a two-hundred day moving average of $212.44. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business earned $3.38 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, analysts predict that Laboratory Co. of America will post 14.55 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction that occurred 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 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. In related news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the director now directly owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,679 shares of company stock valued at $6,946,306. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Laboratory Co. of America by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,581 shares of the medical research company’s stock worth $3,622,000 after purchasing an additional 550 shares during the period. Aviance Capital Partners LLC grew its position in shares of Laboratory Co. of America by 7.7% during the 1st quarter. Aviance Capital Partners LLC now owns 3,808 shares of the medical research company’s stock valued at $832,000 after buying an additional 272 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Laboratory Co. of America during the first quarter worth about $3,431,000. Valeo Financial Advisors LLC lifted its holdings in Laboratory Co. of America by 9.3% in the first quarter. Valeo Financial Advisors LLC now owns 7,823 shares of the medical research company’s stock worth $1,709,000 after acquiring an additional 666 shares during the last quarter. Finally, Hudson Capital Management LLC boosted its stake in Laboratory Co. of America by 7.0% in the first quarter. Hudson Capital Management LLC now owns 15,821 shares of the medical research company’s stock valued at $3,456,000 after acquiring an additional 1,031 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

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.