StockNews.com Downgrades Laboratory Co. of America (NYSE:LH) to Hold

Laboratory Co. of America (NYSE:LH - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

LH has been the topic of a number of other reports. Truist Financial raised their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on Laboratory Co. of America from $220.00 to $230.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Evercore ISI lowered their target price on Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating on the stock in a research report on Tuesday, September 24th. Robert W. Baird lifted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Jefferies Financial Group lifted their target price on 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. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $253.54.

Laboratory Co. of America Stock Down 0.6 %

LH stock traded down $1.44 on Friday, reaching $228.63. 819,191 shares of the company traded hands, compared to its average volume of 668,948. The company has a market cap of $19.20 billion, a P/E ratio of 43.30, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. The firm has a fifty day simple moving average of $222.58 and a 200-day simple moving average of $212.26. Laboratory Co. of America has a one year low of $191.97 and a one year high of $239.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts' consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.38 EPS. Research analysts anticipate that Laboratory Co. of America will post 14.55 earnings per share for the current year.

Insider Activity at Laboratory Co. of America

In related news, EVP Lance Berberian sold 12,093 shares of the business's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. 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. In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares of the company's stock, valued at approximately $3,156,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the stock in a transaction dated 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 approximately $3,647,501.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,679 shares of company stock valued at $6,946,306. Insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Laboratory Co. of America by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company's stock worth $25,012,000 after purchasing an additional 2,934 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Laboratory Co. of America by 17.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company's stock worth $22,069,000 after purchasing an additional 14,708 shares during the last quarter. SG Americas Securities LLC lifted its stake in Laboratory Co. of America by 283.1% in the first quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company's stock worth $5,072,000 after purchasing an additional 17,156 shares during the last quarter. Duality Advisers LP lifted its stake in Laboratory Co. of America by 141.3% in the first quarter. Duality Advisers LP now owns 29,580 shares of the medical research company's stock worth $6,462,000 after purchasing an additional 17,323 shares during the last quarter. Finally, Great Valley Advisor Group Inc. purchased a new position in shares of Laboratory Co. of America during the second quarter worth approximately $473,000. Institutional investors own 95.94% of the company's stock.

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.

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