Laboratory Co. of America (NYSE:LH) Stock Rating Upgraded by HSBC

by · The Markets Daily

Laboratory Co. of America (NYSE:LH – Get Free Report) was upgraded by equities researchers at HSBC from a “hold” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat reports.

Other analysts have also issued reports about the company. Bank of America lifted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays lifted their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Jefferies Financial Group increased their target price on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Piper Sandler increased their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.

Get Our Latest Analysis on Laboratory Co. of America

Laboratory Co. of America Stock Performance

NYSE LH opened at $228.27 on Wednesday. The stock has a market capitalization of $19.09 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 1.90 and a beta of 1.05. The stock has a 50-day moving average of $222.67 and a 200 day moving average of $212.98. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America has a twelve month low of $191.97 and a twelve month high of $239.50.

Laboratory Co. of America (NYSE:LH – Get Free Report) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company posted $3.38 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that Laboratory Co. of America will post 14.53 EPS for the current fiscal year.

Insider Transactions at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the sale, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,679 shares of company stock worth $6,946,306. 0.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Laboratory Co. of America

Several hedge funds and other institutional investors have recently made changes to their positions in LH. Industrial Alliance Investment Management Inc. purchased a new position in Laboratory Co. of America in the second quarter valued at $27,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $29,000. Pathway Financial Advisers LLC acquired a new stake in shares of Laboratory Co. of America during the 1st quarter worth about $30,000. Innealta Capital LLC purchased a new stake in Laboratory Co. of America during the second quarter worth approximately $32,000. Finally, Family Firm Inc. acquired a new position in Laboratory Co. of America in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

About Laboratory Co. of America

(Get Free Report)

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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