Piper Sandler assumed coverage on shares of Laboratory Co. of America (NYSE:LH – Free Report) in a research note released on Tuesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $235.00 price objective on the medical research company’s stock.
A number of other research analysts also recently commented on the company. UBS Group upped their price objective on 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. Robert W. Baird upped their price objective on Laboratory Co. of America from $278.00 to $282.00 and gave the stock an outperform rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft upped their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a hold rating in a research note on Friday, August 2nd. Truist Financial upped their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Finally, Evercore ISI lowered their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an in-line rating for the company in a research note on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $253.00.
Get Our Latest Analysis on Laboratory Co. of America
Laboratory Co. of America Stock Performance
Laboratory Co. of America (NYSE:LH – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.16. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.42 EPS. As a group, equities research analysts predict that Laboratory Co. of America will post 14.61 EPS for the current year.
Laboratory Co. of America Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.88 annualized dividend and a yield of 1.34%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.
Insider Activity at Laboratory Co. of America
In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the transaction, the director now directly owns 14,722 shares of the company’s stock, valued at approximately $3,312,450. The disclosure for this sale can be found here. Insiders sold 29,679 shares of company stock valued at $6,716,306 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Laboratory Co. of America
Hedge funds have recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new stake in shares of Laboratory Co. of America during the first quarter valued at $30,000. Industrial Alliance Investment Management Inc. purchased a new stake in Laboratory Co. of America in the 2nd quarter worth about $27,000. Innealta Capital LLC purchased a new stake in Laboratory Co. of America in the 2nd quarter worth about $32,000. Family Firm Inc. purchased a new stake in Laboratory Co. of America in the 2nd quarter worth about $37,000. Finally, McClarren Financial Advisors Inc. lifted its stake in Laboratory Co. of America by 313.2% in the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after acquiring an additional 166 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other 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 (Dx) and Biopharma Laboratory Services (BLS).
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