Laboratory Co. of America (NYSE:LH) Price Target Raised to $277.00 at Robert W. Baird

Laboratory Co. of America (NYSE:LH) had its price target hoisted by Robert W. Baird from $261.00 to $277.00 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other analysts have also weighed in on the company. StockNews.com lowered Laboratory Co. of America from a buy rating to a hold rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. cut their price objective on Laboratory Co. of America from $261.00 to $243.00 and set an overweight rating on the stock in a research report on Thursday, May 30th. Evercore ISI upped their price objective on Laboratory Co. of America from $210.00 to $215.00 and gave the company an in-line rating in a research report on Tuesday, July 9th. Truist Financial upped their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the company a buy rating in a research report on Friday. Finally, Barclays cut their price objective on Laboratory Co. of America from $234.00 to $213.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $247.79.

Laboratory Co. of America Price Performance

NYSE LH traded up $2.61 during trading hours on Friday, reaching $236.00. The company’s stock had a trading volume of 1,194,681 shares, compared to its average volume of 600,207. The company has a market capitalization of $19.89 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 1.76 and a beta of 1.05. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $238.46. The firm’s 50-day moving average price is $205.23 and its 200-day moving average price is $210.54. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.16. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.42 EPS. On average, equities research analysts predict that Laboratory Co. of America will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, August 29th. Laboratory Co. of America’s payout ratio is currently 57.95%.

Insider Activity at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total transaction of $421,660.00. Following the sale, the executive vice president now owns 5,637 shares of the company’s stock, valued at $1,188,448.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Laboratory Co. of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LH. Industrial Alliance Investment Management Inc. purchased a new position in shares of Laboratory Co. of America in the second quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new position in shares of Laboratory Co. of America in the first quarter worth about $30,000. Innealta Capital LLC purchased a new position in shares of Laboratory Co. of America in the second quarter worth about $32,000. Family Firm Inc. purchased a new position in shares of Laboratory Co. of America in the second quarter worth about $37,000. Finally, McClarren Financial Advisors Inc. raised its stake in shares of Laboratory Co. of America by 313.2% in the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after purchasing an additional 166 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).