Laboratory Co. of America (NYSE:LH) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Laboratory Co. of America (NYSE:LH) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Several other analysts have also recently weighed in on the company. Truist Financial boosted their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler assumed coverage on shares of Laboratory Co. of America in a research note on Tuesday, October 1st. They set a “neutral” rating and a $235.00 price target for the company. UBS Group boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Bank of America raised their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Evercore ISI reduced their price target on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $253.54.

Laboratory Co. of America Trading Down 0.6 %

Shares of Laboratory Co. of America stock opened at $228.63 on Friday. The firm’s 50 day moving average is $222.58 and its 200 day moving average is $212.26. The firm has a market capitalization of $19.20 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $239.50. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.38 earnings per share. Equities research analysts forecast that Laboratory Co. of America will post 14.55 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is 54.55%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,679 shares of company stock worth $6,946,306 in the last quarter. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Several hedge funds have recently modified their holdings of the company. Industrial Alliance Investment Management Inc. bought a new stake in Laboratory Co. of America during the second quarter worth $27,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America in the 3rd quarter worth about $29,000. Pathway Financial Advisers LLC purchased a new stake in Laboratory Co. of America during the first quarter worth about $30,000. Innealta Capital LLC bought a new stake in Laboratory Co. of America in the second quarter worth about $32,000. Finally, Family Firm Inc. bought a new position in shares of Laboratory Co. of America during the 2nd quarter valued at approximately $37,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.