Laboratory Co. of America (NYSE:LH) PT Raised to $282.00 at Robert W. Baird

Laboratory Co. of America (NYSE:LH) had its price target lifted by Robert W. Baird from $278.00 to $282.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 26.90% from the stock’s previous close.

A number of other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Bank of America lifted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. cut their price target on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Truist Financial lifted their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Evercore ISI lifted their price objective on Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $251.27.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $222.22 on Friday. Laboratory Co. of America has a 12-month low of $191.97 and a 12-month high of $238.46. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $222.74 and its two-hundred day moving average price is $211.54. The stock has a market cap of $18.73 billion, a PE ratio of 44.71, a P/E/G ratio of 1.68 and a beta of 1.06.

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

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares in the company, valued at $3,647,501.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $833,273.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,679 shares of company stock worth $6,716,306. 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 modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in shares of Laboratory Co. of America during the first quarter valued at approximately $30,000. Industrial Alliance Investment Management Inc. bought a new stake in Laboratory Co. of America during the second quarter worth $27,000. Innealta Capital LLC bought a new stake in Laboratory Co. of America during the second quarter worth $32,000. Family Firm Inc. bought a new stake in Laboratory Co. of America during the second quarter worth $37,000. Finally, McClarren Financial Advisors Inc. grew its holdings in Laboratory Co. of America by 313.2% during the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after buying an additional 166 shares in the last quarter. 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).