Laboratory Co. of America (NYSE:LH) Given New $244.00 Price Target at Robert W. Baird

Laboratory Co. of America (NYSE:LH) had its price target decreased by Robert W. Baird from $255.00 to $244.00 in a research report released on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical research company’s stock.

Other analysts also recently issued reports about the company. Evercore ISI initiated coverage on Laboratory Co. of America in a research note on Friday, February 9th. They set an in-line rating and a $240.00 target price on the stock. TheStreet downgraded Laboratory Co. of America from a b- rating to a c+ rating in a research note on Thursday, February 15th. SVB Leerink started coverage on Laboratory Co. of America in a research note on Monday, February 26th. They set an outperform rating and a $260.00 target price on the stock. Argus upgraded Laboratory Co. of America from a hold rating to a buy rating and set a $250.00 price target on the stock in a research note on Monday, March 25th. Finally, Leerink Partnrs reaffirmed an outperform rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Four investment 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 company currently has a consensus rating of Moderate Buy and a consensus target price of $243.14.

Laboratory Co. of America Stock Up 0.0 %

LH stock opened at $198.40 on Friday. Laboratory Co. of America has a twelve month low of $174.20 and a twelve month high of $234.09. The company has a quick ratio of 1.02, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm has a market cap of $16.69 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. The business has a 50 day moving average of $211.70 and a 200 day moving average of $214.66.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating the consensus estimate of $3.46 by $0.22. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the business posted $3.82 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. On average, research analysts forecast that Laboratory Co. of America will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business 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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,048 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the completion of the sale, the chief operating officer now owns 5,036 shares of the company’s stock, valued at $1,100,114.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $222.06, for a total value of $57,513.54. Following the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at $1,695,872.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark S. Schroeder sold 5,048 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $1,102,735.60. Following the completion of the transaction, the chief operating officer now owns 5,036 shares in the company, valued at $1,100,114.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,305 shares of company stock valued at $11,761,059. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Large investors have recently made changes to their positions in the business. Mendota Financial Group LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at about $29,000. Provence Wealth Management Group purchased a new position in shares of Laboratory Co. of America in the third quarter valued at about $29,000. Tradewinds Capital Management LLC purchased a new stake in shares of Laboratory Co. of America in the third quarter worth about $34,000. Exchange Traded Concepts LLC purchased a new stake in shares of Laboratory Co. of America in the third quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Laboratory Co. of America in the fourth quarter worth about $60,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

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).