StockNews.com Upgrades Laboratory Co. of America (NYSE:LH) to Buy

Laboratory Co. of America (NYSE:LH) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lifted their target price on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Robert W. Baird upped their target price on shares of 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. UBS Group raised their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Bank of America upped their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Barclays decreased their target price on Laboratory Co. of America from $249.00 to $234.00 and set an “equal weight” rating for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $251.85.

Laboratory Co. of America Trading Down 0.7 %

LH stock traded down $1.45 during mid-day trading on Thursday, hitting $215.24. 345,152 shares of the company were exchanged, compared to its average volume of 660,255. Laboratory Co. of America has a 12-month low of $191.97 and a 12-month high of $238.46. The firm has a market capitalization of $18.14 billion, a P/E ratio of 43.31, a PEG ratio of 1.67 and a beta of 1.05. The business has a fifty day simple moving average of $222.98 and a 200-day simple moving average of $212.00. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $3.42 EPS. On average, equities research analysts predict that Laboratory Co. of America will post 14.56 earnings per share for the current fiscal year.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the sale, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,679 shares of company stock valued at $6,716,306 over the last ninety days. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC acquired a new stake in shares of Laboratory Co. of America during the first quarter worth $30,000. Industrial Alliance Investment Management Inc. purchased a new position in Laboratory Co. of America during the 2nd quarter worth $27,000. Innealta Capital LLC acquired a new stake in shares of Laboratory Co. of America in the 2nd quarter worth $32,000. Family Firm Inc. purchased a new stake in shares of Laboratory Co. of America in the second quarter valued at about $37,000. Finally, McClarren Financial Advisors Inc. increased its stake in shares of Laboratory Co. of America by 313.2% during the first 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 during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

About Laboratory Co. of America

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.