Credit Suisse Group Lowers Laboratory Co. of America (NYSE:LH) Price Target to $288.00

Laboratory Co. of America (NYSE:LH – Get Rating) had its price objective reduced by investment analysts at Credit Suisse Group from $304.00 to $288.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Credit Suisse Group’s price target points to a potential upside of 29.60% from the company’s previous close.

A number of other research firms also recently issued reports on LH. Truist Financial increased their target price on shares of Laboratory Co. of America from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Wells Fargo & Company dropped their price target on shares of Laboratory Co. of America from $315.00 to $290.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 21st. Robert W. Baird increased their price target on shares of Laboratory Co. of America to $300.00 and gave the stock an “outperform” rating in a research note on Friday, February 17th. Citigroup increased their price target on shares of Laboratory Co. of America from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, February 17th. Finally, Mizuho increased their price target on shares of Laboratory Co. of America from $250.00 to $277.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $283.50.

Laboratory Co. of America Stock Up 1.4 %

LH stock opened at $222.23 on Monday. Laboratory Co. of America has a 12-month low of $200.32 and a 12-month high of $281.22. The company has a quick ratio of 1.35, a current ratio of 1.50 and a debt-to-equity ratio of 0.51. The company has a market cap of $19.67 billion, a price-to-earnings ratio of 16.03 and a beta of 1.06. The company has a 50 day moving average of $245.28 and a two-hundred day moving average of $233.10.

Laboratory Co. of America (NYSE:LH – Get Rating) last released its earnings results on Thursday, February 16th. The medical research company reported $4.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.08. Laboratory Co. of America had a net margin of 8.60% and a return on equity of 17.68%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The company’s revenue was down 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Laboratory Co. of America will post 17.18 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 173 shares of the firm’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $253.90, for a total value of $43,924.70. Following the sale, the executive vice president now directly owns 5,341 shares in the company, valued at approximately $1,356,079.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Laboratory Co. of America news, CEO Paul R. Kirchgraber sold 8,000 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $250.58, for a total value of $2,004,640.00. Following the sale, the chief executive officer now directly owns 9,069 shares in the company, valued at approximately $2,272,510.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 173 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $253.90, for a total transaction of $43,924.70. Following the completion of the sale, the executive vice president now owns 5,341 shares in the company, valued at $1,356,079.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,701 shares of company stock worth $2,178,302. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Laboratory Co. of America

A number of hedge funds and other institutional investors have recently made changes to their positions in LH. Roundview Capital LLC lifted its holdings in shares of Laboratory Co. of America by 1.6% during the 1st quarter. Roundview Capital LLC now owns 7,793 shares of the medical research company’s stock worth $2,055,000 after acquiring an additional 124 shares during the period. LSV Asset Management lifted its holdings in shares of Laboratory Co. of America by 1.2% during the 1st quarter. LSV Asset Management now owns 34,800 shares of the medical research company’s stock worth $9,175,000 after acquiring an additional 400 shares during the period. Synovus Financial Corp lifted its holdings in shares of Laboratory Co. of America by 105.7% during the 1st quarter. Synovus Financial Corp now owns 1,654 shares of the medical research company’s stock worth $441,000 after acquiring an additional 850 shares during the period. Cibc World Market Inc. bought a new position in shares of Laboratory Co. of America during the 1st quarter worth about $213,000. Finally, Sei Investments Co. lifted its holdings in shares of Laboratory Co. of America by 18.9% during the 1st quarter. Sei Investments Co. now owns 89,167 shares of the medical research company’s stock worth $23,543,000 after acquiring an additional 14,186 shares during the period. 89.70% of the stock is owned by institutional investors.

Laboratory Co. of America Company Profile

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Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.