Laboratory Co. of America (NYSE:LH – Free Report) had its price objective cut by UBS Group from $255.00 to $250.00 in a report released on Monday, FlyOnTheWall reports.
Other equities analysts have also recently issued reports about the stock. Morgan Stanley cut their target price on shares of Laboratory Co. of America from $285.00 to $260.00 and set an overweight rating for the company in a research note on Thursday, August 3rd. Robert W. Baird cut their target price on shares of Laboratory Co. of America from $251.00 to $237.00 and set an outperform rating for the company in a research note on Monday. Mizuho reiterated a buy rating and set a $257.00 target price on shares of Laboratory Co. of America in a research note on Friday. StockNews.com assumed coverage on shares of Laboratory Co. of America in a research note on Sunday, September 10th. They set a hold rating for the company. Finally, HSBC assumed coverage on shares of Laboratory Co. of America in a report on Wednesday, September 6th. They issued a hold rating and a $210.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America currently has an average rating of Moderate Buy and a consensus price target of $246.00.
View Our Latest Analysis on LH
Laboratory Co. of America Price Performance
Laboratory Co. of America (NYSE:LH – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The medical research company reported $3.42 earnings per share for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.05). Laboratory Co. of America had a return on equity of 14.62% and a net margin of 5.89%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. Laboratory Co. of America’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Laboratory Co. of America will post 13.68 earnings per share for the current year.
Laboratory Co. of America Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 8th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Monday, August 7th. Laboratory Co. of America’s payout ratio is 31.07%.
Insider Transactions at Laboratory Co. of America
In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $211.57, for a total transaction of $1,057,850.00. Following the sale, the director now owns 15,275 shares of the company’s stock, valued at approximately $3,231,731.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Kerrii B. Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $211.57, for a total value of $1,057,850.00. Following the sale, the director now directly owns 15,275 shares in the company, valued at approximately $3,231,731.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 212 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $240.00, for a total transaction of $50,880.00. Following the sale, the executive vice president now owns 7,605 shares in the company, valued at $1,825,200. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.
Hedge Funds Weigh In On Laboratory Co. of America
Several hedge funds have recently made changes to their positions in the business. Roundview Capital LLC grew its stake in shares of Laboratory Co. of America by 1.6% in the first quarter. Roundview Capital LLC now owns 7,793 shares of the medical research company’s stock valued at $2,055,000 after buying an additional 124 shares in the last quarter. LSV Asset Management grew its stake in shares of Laboratory Co. of America by 1.2% in the first quarter. LSV Asset Management now owns 34,800 shares of the medical research company’s stock valued at $9,175,000 after buying an additional 400 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Laboratory Co. of America by 105.7% in the first quarter. Synovus Financial Corp now owns 1,654 shares of the medical research company’s stock valued at $441,000 after buying an additional 850 shares in the last quarter. Cibc World Market Inc. acquired a new stake in Laboratory Co. of America during the 1st quarter valued at $213,000. Finally, Sei Investments Co. lifted its holdings in Laboratory Co. of America by 18.9% during the 1st quarter. Sei Investments Co. now owns 89,167 shares of the medical research company’s stock valued at $23,543,000 after purchasing an additional 14,186 shares during the last quarter. 89.37% of the stock is owned by institutional investors.
Laboratory Co. of America Company Profile
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 and Labcorp Drug Development.
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