Laboratory Co. of America (NYSE:LH) Given New $282.00 Price Target at Robert W. Baird

Laboratory Co. of America (NYSE:LH) had its price objective hoisted by Robert W. Baird from $278.00 to $282.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the medical research company’s stock.

Other analysts have also issued reports about the stock. StockNews.com raised shares of Laboratory Co. of America from a hold rating to a buy rating in a research note on Tuesday, August 20th. Bank of America boosted their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a buy rating in a research report on Monday, August 5th. Truist Financial raised their target price 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. Evercore ISI boosted their price target on Laboratory Co. of America from $210.00 to $215.00 and gave the company an in-line rating in a report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a hold rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $251.27.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $222.22 on Friday. The company has a market cap of $18.73 billion, a price-to-earnings ratio of 44.71, a PEG ratio of 1.68 and a beta of 1.06. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $238.46. The stock’s 50 day simple moving average is $222.74 and its two-hundred day simple moving average is $211.57. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $3.42 EPS. As a group, equities analysts anticipate that Laboratory Co. of America will post 14.67 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a $0.72 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.88 annualized dividend and a yield of 1.30%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Insider Buying and Selling at Laboratory Co. of America

In related news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total value of $131,850.00. Following the transaction, the director now directly owns 14,722 shares in the company, valued at $3,312,450. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is currently owned by 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 business. Bank of New York Mellon Corp increased its holdings in shares of Laboratory Co. of America by 135.0% during the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after acquiring an additional 924,881 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Laboratory Co. of America by 58.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock worth $352,563,000 after buying an additional 597,571 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Laboratory Co. of America by 25.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock worth $396,771,000 after buying an additional 395,197 shares during the period. Select Equity Group L.P. acquired a new stake in shares of Laboratory Co. of America during the second quarter worth $73,928,000. Finally, Veritas Investment Partners UK Ltd. grew its holdings in shares of Laboratory Co. of America by 32.5% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock valued at $259,133,000 after buying an additional 279,628 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

About Laboratory Co. of America

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 (Dx) and Biopharma Laboratory Services (BLS).