Laboratory Co. of America (NYSE:LH) Price Target Lowered to $213.00 at Barclays

Laboratory Co. of America (NYSE:LH) had its target price decreased by Barclays from $234.00 to $213.00 in a research note issued to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the medical research company’s stock.

Other equities analysts also recently issued reports about the stock. Argus upgraded shares of Laboratory Co. of America from a hold rating to a buy rating and set a $250.00 target price on the stock in a research note on Monday, March 25th. SVB Leerink began coverage on Laboratory Co. of America in a report on Monday, February 26th. They set an outperform rating and a $260.00 price objective on the stock. Evercore ISI assumed coverage on Laboratory Co. of America in a report on Friday, February 9th. They issued an in-line rating and a $240.00 target price for the company. TheStreet lowered Laboratory Co. of America from a b- rating to a c+ rating in a research note on Thursday, February 15th. Finally, Leerink Partnrs reaffirmed an outperform rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $243.14.

Laboratory Co. of America Stock Up 2.9 %

Shares of NYSE:LH opened at $204.17 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The business has a 50 day simple moving average of $211.45 and a two-hundred day simple moving average of $214.90. Laboratory Co. of America has a 1 year low of $174.20 and a 1 year high of $234.09. The firm has a market capitalization of $17.18 billion, a PE ratio of 41.08, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.82 earnings per share. On average, equities analysts predict that Laboratory Co. of America will post 14.85 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, May 28th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Insider Activity

In related news, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $49,588.15. Following the transaction, the chief marketing officer now directly owns 3,859 shares in the company, valued at approximately $842,998.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 259 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,695,872.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Amy B. Summy sold 227 shares of Laboratory Co. of America stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $49,588.15. Following the sale, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at $842,998.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,305 shares of company stock worth $11,761,059. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in Laboratory Co. of America during the 3rd quarter valued at approximately $37,000. Caprock Group LLC lifted its position in Laboratory Co. of America by 25.1% during the third quarter. Caprock Group LLC now owns 3,028 shares of the medical research company’s stock valued at $609,000 after purchasing an additional 607 shares during the period. UMB Bank n.a. boosted its holdings in Laboratory Co. of America by 22.1% in the third quarter. UMB Bank n.a. now owns 315 shares of the medical research company’s stock valued at $63,000 after purchasing an additional 57 shares during the last quarter. Oak Thistle LLC acquired a new stake in Laboratory Co. of America during the 3rd quarter worth about $604,000. Finally, Czech National Bank raised its stake in shares of Laboratory Co. of America by 47.7% during the 3rd quarter. Czech National Bank now owns 15,486 shares of the medical research company’s stock valued at $3,113,000 after buying an additional 4,998 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

About Laboratory Co. of America

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).