Laboratory Co. of America (NYSE:LH) PT Lowered to $255.00

Laboratory Co. of America (NYSE:LH) had its price objective trimmed by Truist Financial from $270.00 to $255.00 in a research note released on Friday, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

Several other equities analysts have also recently issued reports on the company. Robert W. Baird decreased their price target on Laboratory Co. of America from $255.00 to $244.00 and set an outperform rating on the stock in a report on Friday. TheStreet lowered shares of Laboratory Co. of America from a b- rating to a c+ rating in a research note on Thursday, February 15th. Barclays dropped their price target on shares of Laboratory Co. of America from $234.00 to $213.00 and set an equal weight rating for the company in a research note on Friday. Evercore ISI assumed coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They issued an in-line rating and a $240.00 price objective on the stock. Finally, Leerink Partnrs reiterated an outperform rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $243.14.

Laboratory Co. of America Trading Up 2.9 %

LH opened at $204.17 on Friday. Laboratory Co. of America has a 1-year low of $174.20 and a 1-year high of $234.09. The stock has a market capitalization of $17.18 billion, a PE ratio of 41.08, a PEG ratio of 1.49 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $211.45 and a two-hundred day moving average price of $214.90.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted $3.82 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that Laboratory Co. of America will post 14.85 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Tuesday, May 28th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Insider Activity

In other news, COO Mark S. Schroeder sold 6,477 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the completion of the transaction, the chief operating officer now directly owns 5,036 shares of the company’s stock, valued at $1,094,272.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the sale, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mark S. Schroeder sold 6,477 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $1,407,387.33. Following the completion of the transaction, the chief operating officer now owns 5,036 shares of the company’s stock, valued at approximately $1,094,272.44. The disclosure for this sale can be found here. Insiders sold 54,305 shares of company stock worth $11,761,059 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Laboratory Co. of America

Institutional investors and hedge funds have recently bought and sold shares of the stock. Provence Wealth Management Group bought a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Mendota Financial Group LLC bought a new stake in Laboratory Co. of America during the fourth quarter worth $29,000. Tradewinds Capital Management LLC acquired a new stake in Laboratory Co. of America in the third quarter valued at $34,000. Exchange Traded Concepts LLC bought a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $37,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter worth about $60,000. Institutional investors own 95.94% of the company’s stock.

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).