Robert W. Baird Raises Laboratory Co. of America (NYSE:LH) Price Target to $261.00

Laboratory Co. of America (NYSE:LH) had its price objective boosted by Robert W. Baird from $258.00 to $261.00 in a report published on Monday morning, Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

A number of other analysts have also recently weighed in on LH. Argus upgraded shares of Laboratory Co. of America from a hold rating to a buy rating and set a $250.00 price target on the stock in a report on Monday, March 25th. JPMorgan Chase & Co. lowered their price target on shares of Laboratory Co. of America from $261.00 to $243.00 and set an overweight rating on the stock in a report on Thursday, May 30th. StockNews.com cut shares of Laboratory Co. of America from a buy rating to a hold rating in a report on Tuesday, June 4th. Barclays lowered their price target on shares of Laboratory Co. of America from $234.00 to $213.00 and set an equal weight rating on the stock in a report on Friday, April 26th. Finally, Truist Financial lowered their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a buy rating on the stock in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $241.29.

Laboratory Co. of America Price Performance

LH stock opened at $206.21 on Monday. Laboratory Co. of America has a one year low of $191.97 and a one year high of $234.09. The company’s fifty day moving average price is $202.34 and its 200-day moving average price is $211.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. The company has a market capitalization of $17.38 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm posted $3.82 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Laboratory Co. of America will post 14.87 EPS for the current fiscal year.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $204.13, for a total value of $51,032.50. Following the completion of the sale, the director now owns 15,972 shares in the company, valued at $3,260,364.36. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Kerrii B. Anderson sold 250 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $204.13, for a total transaction of $51,032.50. Following the completion of the sale, the director now owns 15,972 shares in the company, valued at $3,260,364.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the transaction, the executive vice president now owns 5,637 shares of the company’s stock, valued at approximately $1,188,448.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,939 shares of company stock worth $1,021,078. 0.85% of the stock is owned by insiders.

Institutional Trading of Laboratory Co. of America

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Laboratory Co. of America by 20.6% in the third quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock valued at $500,033,000 after purchasing an additional 424,684 shares during the last quarter. Morgan Stanley boosted its stake in shares of Laboratory Co. of America by 102.6% during the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after acquiring an additional 1,123,755 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Laboratory Co. of America by 58.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after acquiring an additional 597,571 shares during the last quarter. Norges Bank acquired a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $291,045,000. Finally, Northern Trust Corp boosted its stake in shares of Laboratory Co. of America by 3.0% during the fourth quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock valued at $264,396,000 after acquiring an additional 33,493 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

About Laboratory Co. of America

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).