Laboratory Co. of America (NYSE:LH) PT Lowered to $243.00 at JPMorgan Chase & Co.

Laboratory Co. of America (NYSE:LHFree Report) had its target price trimmed by JPMorgan Chase & Co. from $261.00 to $243.00 in a research report released on Thursday, Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

LH has been the subject of a number of other reports. StockNews.com upgraded Laboratory Co. of America from a hold rating to a buy rating in a research note on Monday, May 27th. Truist Financial decreased their price target on Laboratory Co. of America from $270.00 to $255.00 and set a buy rating for the company in a research note on Friday, April 26th. Evercore ISI assumed coverage on Laboratory Co. of America in a research note on Friday, February 9th. They issued an in-line rating and a $240.00 price target for the company. Leerink Partnrs reiterated an outperform rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Finally, Robert W. Baird decreased their price target on Laboratory Co. of America from $255.00 to $244.00 and set an outperform rating for the company in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $241.86.

Read Our Latest Research Report on Laboratory Co. of America

Laboratory Co. of America Trading Up 0.8 %

Shares of NYSE LH opened at $194.91 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The stock has a market capitalization of $16.43 billion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02. Laboratory Co. of America has a 1-year low of $174.20 and a 1-year high of $234.09. The business has a fifty day moving average price of $205.53 and a 200 day moving average price of $214.79.

Laboratory Co. of America (NYSE:LHGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.82 EPS. Equities research analysts expect that Laboratory Co. of America will post 14.87 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors 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 yield of 1.48%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

Insider Buying and Selling

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 directly owns 5,637 shares of the company’s stock, valued at $1,188,448.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the sale, the executive vice president now directly owns 5,637 shares in the company, valued at $1,188,448.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 250 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the completion of the sale, the director now owns 15,722 shares of the company’s stock, valued at $3,145,972.20. The disclosure for this sale can be found here. Insiders have sold a total of 23,744 shares of company stock valued at $5,111,382 over the last ninety days. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Laboratory Co. of America

Institutional investors and hedge funds have recently made changes to their positions in the business. NBC Securities Inc. acquired a new stake in shares of Laboratory Co. of America in the third quarter worth approximately $147,000. Victory Capital Management Inc. boosted its stake in shares of Laboratory Co. of America by 13.9% in the third quarter. Victory Capital Management Inc. now owns 83,102 shares of the medical research company’s stock worth $16,708,000 after acquiring an additional 10,172 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Laboratory Co. of America by 10.6% in the third quarter. Assenagon Asset Management S.A. now owns 13,357 shares of the medical research company’s stock worth $2,685,000 after acquiring an additional 1,283 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Laboratory Co. of America by 8.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 82,555 shares of the medical research company’s stock worth $16,598,000 after acquiring an additional 6,658 shares during the last quarter. Finally, abrdn plc boosted its stake in shares of Laboratory Co. of America by 11.0% in the third quarter. abrdn plc now owns 64,872 shares of the medical research company’s stock worth $13,043,000 after acquiring an additional 6,403 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Company Profile

(Get Free Report)

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).

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Analyst Recommendations for Laboratory Co. of America (NYSE:LH)

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