Morgan Stanley Issues Positive Forecast for Laboratory Co. of America (NYSE:LH) Stock Price

Laboratory Co. of America (NYSE:LH - Free Report) had its price target raised by Morgan Stanley from $260.00 to $270.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the medical research company's stock.

LH has been the topic of a number of other research reports. Robert W. Baird lifted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Barclays lifted their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an "equal weight" rating in a report on Friday, October 25th. Jefferies Financial Group restated a "buy" rating and set a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Finally, HSBC upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $258.62.

Laboratory Co. of America Price Performance

Shares of LH stock traded up $1.33 during trading hours on Tuesday, reaching $230.95. The company's stock had a trading volume of 453,321 shares, compared to its average volume of 659,312. Laboratory Co. of America has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The firm's 50 day simple moving average is $231.07 and its 200-day simple moving average is $220.81. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 1.89 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the business posted $3.38 earnings per share. The business's revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts forecast that Laboratory Co. of America will post 14.52 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th were issued a $0.72 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. Laboratory Co. of America's dividend payout ratio is currently 55.71%.

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares of the company's stock, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the transaction, the executive vice president now directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,572 shares of company stock worth $5,910,209. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Laboratory Co. of America

Several institutional investors have recently modified their holdings of the company. Beaird Harris Wealth Management LLC purchased a new stake in Laboratory Co. of America during the 3rd quarter valued at about $55,000. Franklin Resources Inc. grew its holdings in shares of Laboratory Co. of America by 27.3% in the third quarter. Franklin Resources Inc. now owns 20,837 shares of the medical research company's stock worth $4,519,000 after purchasing an additional 4,468 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in Laboratory Co. of America by 0.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 92,930 shares of the medical research company's stock valued at $20,768,000 after buying an additional 484 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in Laboratory Co. of America by 34.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 25,847 shares of the medical research company's stock valued at $5,776,000 after buying an additional 6,651 shares during the period. Finally, World Investment Advisors LLC purchased a new position in shares of Laboratory Co. of America in the third quarter valued at about $5,955,000. 95.94% of the stock is currently owned by institutional investors.

About Laboratory Co. of America

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.