Laboratory Co. of America (NYSE:LH) PT Raised to $240.00 at Piper Sandler

Laboratory Co. of America (NYSE:LH) had its price target lifted by research analysts at Piper Sandler from $235.00 to $240.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the medical research company’s stock. Piper Sandler’s price objective would suggest a potential upside of 5.22% from the company’s current price.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. UBS Group upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays upped their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Jefferies Financial Group increased their price target 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $253.92.

Laboratory Co. of America Stock Performance

Shares of LH opened at $228.09 on Monday. The company’s fifty day moving average is $222.68 and its 200-day moving average is $212.75. Laboratory Co. of America has a 12 month low of $191.97 and a 12 month high of $239.50. The firm has a market cap of $19.15 billion, a price-to-earnings ratio of 44.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. Laboratory Co. of America’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.38 EPS. Equities analysts expect that Laboratory Co. of America will post 14.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the sale, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the sale, the director now owns 14,722 shares in the company, valued at $3,312,450. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,679 shares of company stock worth $6,946,306 in the last quarter. 0.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Laboratory Co. of America by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock valued at $25,012,000 after acquiring an additional 2,934 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Laboratory Co. of America by 17.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock valued at $22,069,000 after purchasing an additional 14,708 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock valued at $5,072,000 after purchasing an additional 17,156 shares during the last quarter. Duality Advisers LP boosted its stake in shares of Laboratory Co. of America by 141.3% in the 1st quarter. Duality Advisers LP now owns 29,580 shares of the medical research company’s stock valued at $6,462,000 after purchasing an additional 17,323 shares during the last quarter. Finally, Great Valley Advisor Group Inc. bought a new position in shares of Laboratory Co. of America in the 2nd quarter valued at about $473,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

About Laboratory Co. of America

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.