Laboratory Co. of America Holdings (NYSE:LH) Receives $258.62 Average PT from Brokerages

Laboratory Co. of America Holdings (NYSE:LH) has earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $258.62.

Several research firms have recently weighed in on LH. Evercore ISI decreased their target price on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group restated a “buy” rating and issued a $275.00 target price (up from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Bank of America lifted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Piper Sandler increased their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $229.49 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.19 billion, a price-to-earnings ratio of 44.39, a PEG ratio of 1.91 and a beta of 1.05. Laboratory Co. of America has a 12 month low of $191.97 and a 12 month high of $247.99. The firm’s 50-day moving average is $232.35 and its 200 day moving average is $221.92.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business posted $3.38 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts predict that Laboratory Co. of America will post 14.52 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

Insider Activity

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,572 shares of company stock worth $5,910,209. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

Several institutional investors have recently added to or reduced their stakes in LH. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Laboratory Co. of America during the second quarter worth $27,000. SouthState Corp purchased a new position in Laboratory Co. of America in the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America during the 3rd quarter worth about $29,000. Innealta Capital LLC acquired a new stake in Laboratory Co. of America during the 2nd quarter worth about $32,000. Finally, Family Firm Inc. purchased a new stake in Laboratory Co. of America during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds 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.