Laboratory Co. of America (NYSE:LH) Given New $249.00 Price Target at Barclays

Laboratory Co. of America (NYSE:LH) had its price objective raised by research analysts at Barclays from $234.00 to $249.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Barclays‘s target price points to a potential upside of 8.99% from the company’s previous close.

LH has been the subject of several other research reports. Robert W. Baird increased their price objective 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. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Truist Financial upped their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Evercore ISI dropped their target price 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.54.

Laboratory Co. of America Trading Down 0.7 %

LH stock traded down $1.61 during trading on Friday, reaching $228.46. 424,294 shares of the stock traded hands, compared to its average volume of 667,041. The firm has a market capitalization of $19.18 billion, a PE ratio of 43.39, a P/E/G ratio of 1.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77. The business’s 50 day moving average price is $222.47 and its 200-day moving average price is $212.14. Laboratory Co. of America has a 52-week low of $191.97 and a 52-week high of $239.50.

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

Insiders Place Their Bets

In other news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the transaction, the executive vice president now owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value 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 approximately $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Lance Berberian sold 12,093 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the transaction, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,679 shares of company stock valued at $6,946,306 over the last three months. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Insight Inv LLC increased its position in shares of Laboratory Co. of America by 1.3% during the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock valued at $718,000 after purchasing an additional 45 shares during the period. Athena Investment Management boosted its position in shares of Laboratory Co. of America by 4.8% during the 2nd quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock valued at $212,000 after purchasing an additional 48 shares in the last quarter. Connecticut Wealth Management LLC grew its stake in shares of Laboratory Co. of America by 1.8% in the 1st quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock worth $649,000 after purchasing an additional 52 shares during the last quarter. Concord Wealth Partners raised its holdings in shares of Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares in the last quarter. Finally, Pure Financial Advisors LLC boosted its holdings in Laboratory Co. of America by 5.1% during the second quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock worth $222,000 after buying an additional 53 shares in the last quarter. 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.