Laboratory Co. of America (NYSE:LH) Price Target Cut to $255.00 by Analysts at Truist Financial

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

Several other research analysts have also weighed in on LH. Argus upgraded shares of Laboratory Co. of America from a hold rating to a buy rating and set a $250.00 price objective on the stock in a report on Monday, March 25th. Robert W. Baird dropped their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an outperform rating for the company in a research report on Friday. SVB Leerink began coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They set an outperform rating and a $260.00 target price for the company. Leerink Partnrs reissued an outperform rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Finally, TheStreet downgraded shares of Laboratory Co. of America from a b- rating to a c+ rating in a research report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America presently has an average rating of Moderate Buy and a consensus price target of $243.14.

Laboratory Co. of America Trading Up 0.0 %

NYSE:LH opened at $198.40 on Friday. The firm has a market cap of $16.69 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $211.70 and a 200 day moving average price of $214.66. Laboratory Co. of America has a 12-month low of $174.20 and a 12-month high of $234.09.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.22. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.82 EPS. Sell-side analysts anticipate that Laboratory Co. of America will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Insider Buying and Selling

In related news, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the transaction, the chief financial officer now directly owns 23,595 shares in the company, valued at $5,095,812.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value of $7,451,828.88. Following the sale, the chief financial officer now directly owns 23,595 shares in the company, valued at $5,095,812.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the completion of the sale, the executive vice president now owns 7,637 shares in the company, valued at $1,695,872.22. The disclosure for this sale can be found here. Insiders have sold 54,305 shares of company stock worth $11,761,059 over the last ninety days. 0.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Mendota Financial Group LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter valued at $29,000. Provence Wealth Management Group acquired a new position in shares of Laboratory Co. of America during the third quarter valued at $29,000. Tradewinds Capital Management LLC acquired a new position in Laboratory Co. of America during the third quarter worth about $34,000. Exchange Traded Concepts LLC acquired a new position in Laboratory Co. of America during the third quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Laboratory Co. of America during the fourth quarter worth about $60,000. 95.94% of the stock is owned by institutional investors and hedge funds.

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).