Laboratory Co. of America Holdings (NYSE:LH) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) have been assigned an average recommendation of “Buy” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $297.09.

A number of brokerages have recently issued reports on LH. Mizuho cut their price target on Laboratory Co. of America from $354.00 to $323.00 in a report on Wednesday, May 4th. Citigroup lifted their price target on Laboratory Co. of America from $340.00 to $350.00 in a report on Friday, February 11th. Truist Financial cut their price target on Laboratory Co. of America from $350.00 to $320.00 in a report on Friday, April 29th. Credit Suisse Group cut their price target on Laboratory Co. of America from $344.00 to $312.00 in a report on Monday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Laboratory Co. of America from $294.00 to $265.00 in a report on Tuesday, May 3rd.

In other Laboratory Co. of America news, EVP Mark S. Schroeder sold 2,356 shares of Laboratory Co. of America stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $277.11, for a total transaction of $652,871.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Sanders Williams sold 572 shares of Laboratory Co. of America stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $272.98, for a total value of $156,144.56. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Laboratory Co. of America by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,859,128 shares of the medical research company’s stock valued at $2,863,118,000 after buying an additional 106,063 shares during the last quarter. BlackRock Inc. increased its stake in shares of Laboratory Co. of America by 15.7% in the 1st quarter. BlackRock Inc. now owns 9,576,779 shares of the medical research company’s stock valued at $2,525,014,000 after purchasing an additional 1,302,369 shares in the last quarter. State Street Corp increased its stake in shares of Laboratory Co. of America by 2.7% in the 4th quarter. State Street Corp now owns 4,423,702 shares of the medical research company’s stock valued at $1,389,971,000 after purchasing an additional 117,371 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Laboratory Co. of America by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,876,827 shares of the medical research company’s stock valued at $588,268,000 after purchasing an additional 41,781 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Laboratory Co. of America by 16.7% in the 1st quarter. Bank of America Corp DE now owns 1,778,329 shares of the medical research company’s stock valued at $468,873,000 after purchasing an additional 253,972 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

LH opened at $237.36 on Thursday. The stock’s fifty day moving average is $254.59 and its two-hundred day moving average is $271.94. The company has a market capitalization of $22.00 billion, a P/E ratio of 10.89 and a beta of 1.04. Laboratory Co. of America has a 52 week low of $232.01 and a 52 week high of $317.17. The company has a quick ratio of 1.81, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

Laboratory Co. of America (NYSE:LHGet Rating) last released its quarterly earnings data on Thursday, April 28th. The medical research company reported $6.11 EPS for the quarter, topping the consensus estimate of $5.88 by $0.23. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. Laboratory Co. of America had a return on equity of 23.84% and a net margin of 13.24%. Laboratory Co. of America’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the business posted $8.79 EPS. Equities analysts anticipate that Laboratory Co. of America will post 19.8 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Thursday, May 19th will be given a $0.72 dividend. The ex-dividend date is Wednesday, May 18th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.21%. Laboratory Co. of America’s payout ratio is 13.22%.

Laboratory Co. of America Company Profile (Get Rating)

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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