Laboratory Co. of America (NYSE:LH) PT Lowered to $240.00 at Evercore ISI

Laboratory Co. of America (NYSE:LH) had its price objective dropped by Evercore ISI from $250.00 to $240.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s price objective would suggest a potential upside of 9.78% from the company’s current price.

LH has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price objective on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. 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. Truist Financial lifted their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group upped their target price on 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. Finally, Jefferies Financial Group raised their price target on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $254.50.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $218.61 on Tuesday. The business’s 50-day simple moving average is $223.17 and its 200 day simple moving average is $211.56. The company has a market cap of $18.35 billion, a P/E ratio of 43.99, a PEG ratio of 1.74 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. Laboratory Co. of America has a one year low of $191.97 and a one year high of $238.46.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.42 earnings per share. On average, sell-side analysts forecast that Laboratory Co. of America will post 14.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 dated Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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. The disclosure for this sale can be found here. Insiders sold 29,679 shares of company stock valued at $6,716,306 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Insight Inv LLC lifted its holdings in shares of Laboratory Co. of America by 1.3% in the second quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock valued at $718,000 after buying an additional 45 shares during the period. Athena Investment Management raised its position in Laboratory Co. of America by 4.8% in the second quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock worth $212,000 after acquiring an additional 48 shares in the last quarter. Unison Advisors LLC lifted its holdings in Laboratory Co. of America by 0.5% in the 1st quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock valued at $2,415,000 after acquiring an additional 51 shares during the last quarter. Connecticut Wealth Management LLC boosted its position in shares of Laboratory Co. of America by 1.8% during the 1st quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock valued at $649,000 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. 95.94% 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 (Dx) and Biopharma Laboratory Services (BLS).