Laboratory Co. of America (NYSE:LH) Reaches New 52-Week High – Here’s Why

Laboratory Co. of America Holdings (NYSE:LH)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $240.39 and last traded at $239.49, with a volume of 473852 shares changing hands. The stock had previously closed at $234.38.

Analyst Ratings Changes

A number of analysts recently weighed in on LH shares. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI decreased their target price on shares of 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. Robert W. Baird upped their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Bank of America lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.92.

Laboratory Co. of America Trading Up 2.0 %

The firm has a market cap of $19.99 billion, a PE ratio of 46.41, a PEG ratio of 1.87 and a beta of 1.05. The firm has a fifty day simple moving average of $222.59 and a two-hundred day simple moving average of $213.85. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.38 earnings per share. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 1.20%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares in the company, valued at $3,156,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the sale, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, October 24th. The shares were 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 of the company’s stock, valued at $3,156,060. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,000 shares of company stock worth $4,043,950 over the last three months. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LH. Price T Rowe Associates Inc. MD raised its position in shares of Laboratory Co. of America by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after purchasing an additional 2,934 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Laboratory Co. of America by 17.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after buying an additional 14,708 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Laboratory Co. of America by 283.1% during the first quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock valued at $5,072,000 after buying an additional 17,156 shares during the last quarter. Duality Advisers LP increased its position in shares of Laboratory Co. of America by 141.3% during the first quarter. Duality Advisers LP now owns 29,580 shares of the medical research company’s stock valued at $6,462,000 after acquiring an additional 17,323 shares in the last quarter. Finally, Great Valley Advisor Group Inc. purchased a new position in Laboratory Co. of America in the 2nd quarter worth approximately $473,000. 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.