Credit Suisse Group Trims Laboratory Co. of America (NYSE:LH) Target Price to $305.00

Laboratory Co. of America (NYSE:LHGet Rating) had its target price dropped by research analysts at Credit Suisse Group from $308.00 to $305.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 28.00% from the stock’s previous close.

A number of other equities research analysts have also weighed in on LH. William Blair restated an “outperform” rating on shares of Laboratory Co. of America in a research report on Thursday, October 27th. Morgan Stanley lowered their price objective on Laboratory Co. of America from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, October 31st. Argus downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Monday, September 19th. Mizuho decreased their price target on shares of Laboratory Co. of America from $296.00 to $250.00 and set a “buy” rating for the company in a research report on Thursday, November 3rd. Finally, Citigroup cut their price target on shares of Laboratory Co. of America from $300.00 to $275.00 in a report on Friday, October 28th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $268.75.

Laboratory Co. of America Stock Up 0.7 %

Shares of NYSE LH opened at $238.29 on Wednesday. The company has a market cap of $21.11 billion, a price-to-earnings ratio of 12.71 and a beta of 1.06. The company has a current ratio of 1.73, a quick ratio of 1.55 and a debt-to-equity ratio of 0.54. Laboratory Co. of America has a 12 month low of $200.32 and a 12 month high of $317.17. The stock has a 50-day moving average price of $221.10 and a two-hundred day moving average price of $234.48.

Laboratory Co. of America (NYSE:LHGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The medical research company reported $4.68 EPS for the quarter, beating the consensus estimate of $4.67 by $0.01. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.79 billion. Laboratory Co. of America had a net margin of 11.51% and a return on equity of 20.33%. The firm’s revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.82 EPS. As a group, analysts forecast that Laboratory Co. of America will post 19.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Glenn A. Eisenberg sold 25,000 shares of the stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $210.62, for a total transaction of $5,265,500.00. Following the transaction, the chief financial officer now owns 27,158 shares of the company’s stock, valued at approximately $5,720,017.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Glenn A. Eisenberg sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $210.62, for a total transaction of $5,265,500.00. Following the transaction, the chief financial officer now directly owns 27,158 shares of the company’s stock, valued at $5,720,017.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark S. Schroeder sold 1,116 shares of Laboratory Co. of America stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $232.67, for a total transaction of $259,659.72. Following the completion of the sale, the executive vice president now directly owns 6,687 shares of the company’s stock, valued at approximately $1,555,864.29. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Laboratory Co. of America

Large investors have recently added to or reduced their stakes in the business. MCF Advisors LLC bought a new position in Laboratory Co. of America during the 1st quarter valued at $25,000. Tcwp LLC bought a new position in shares of Laboratory Co. of America during the first quarter valued at about $26,000. Washington Trust Advisors Inc. boosted its holdings in Laboratory Co. of America by 352.2% during the first quarter. Washington Trust Advisors Inc. now owns 104 shares of the medical research company’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. Jones Financial Companies Lllp grew its position in Laboratory Co. of America by 91.4% in the 2nd quarter. Jones Financial Companies Lllp now owns 111 shares of the medical research company’s stock worth $26,000 after purchasing an additional 53 shares in the last quarter. Finally, Adirondack Trust Co. bought a new position in shares of Laboratory Co. of America during the 3rd quarter worth approximately $25,000. Institutional investors own 88.82% of the company’s stock.

Laboratory Co. of America Company Profile

(Get Rating)

Laboratory Corporation of America Holdings operates as a global 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 Labcorp Drug Development (DD).

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