Laboratory Co. of America (NYSE:LH) Lifted to Buy at Argus

Argus upgraded shares of Laboratory Co. of America (NYSE:LH) from a hold rating to a buy rating in a report issued on Monday morning, Analyst Ratings Network reports. Argus currently has $245.00 price target on the medical research company’s stock.

LH has been the topic of a number of other research reports. William Blair restated an outperform rating on shares of Laboratory Co. of America in a research note on Tuesday, October 27th. BidaskClub upgraded shares of Laboratory Co. of America from a hold rating to a buy rating in a research note on Thursday, January 7th. Wells Fargo & Company increased their price objective on shares of Laboratory Co. of America from $225.00 to $260.00 and gave the stock an overweight rating in a research note on Wednesday, October 28th. Mizuho increased their price objective on shares of Laboratory Co. of America from $215.00 to $234.00 and gave the company a buy rating in a report on Wednesday, October 28th. Finally, Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $183.00 to $230.00 and gave the company a buy rating in a report on Wednesday, October 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $225.22.

Shares of Laboratory Co. of America stock opened at $220.06 on Monday. The business has a 50 day moving average price of $204.60 and a 200 day moving average price of $193.40. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.36 and a quick ratio of 1.23. The company has a market capitalization of $21.43 billion, a P/E ratio of 25.62, a P/E/G ratio of 0.99 and a beta of 1.08. Laboratory Co. of America has a 1 year low of $98.02 and a 1 year high of $222.28.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Sunday, November 1st. The medical research company reported $8.41 EPS for the quarter, topping analysts’ consensus estimates of $5.31 by $3.10. Laboratory Co. of America had a net margin of 6.79% and a return on equity of 21.05%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the previous year, the business posted $2.90 EPS. The firm’s revenue was up 33.0% compared to the same quarter last year. As a group, research analysts expect that Laboratory Co. of America will post 20.41 EPS for the current fiscal year.

In related news, CEO Paul R. Kirchgraber sold 1,500 shares of Laboratory Co. of America stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $214.14, for a total transaction of $321,210.00. Following the completion of the transaction, the chief executive officer now directly owns 7,698 shares of the company’s stock, valued at approximately $1,648,449.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark S. Schroeder sold 588 shares of Laboratory Co. of America stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $214.59, for a total transaction of $126,178.92. Following the transaction, the executive vice president now directly owns 3,949 shares of the company’s stock, valued at $847,415.91. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Prospera Financial Services Inc acquired a new position in Laboratory Co. of America during the third quarter valued at approximately $26,000. BNC Wealth Management LLC acquired a new position in Laboratory Co. of America during the third quarter valued at approximately $34,000. Orion Portfolio Solutions LLC grew its holdings in Laboratory Co. of America by 52.0% during the second quarter. Orion Portfolio Solutions LLC now owns 298 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 102 shares during the period. ELM Advisors LLC bought a new position in Laboratory Co. of America in the fourth quarter valued at approximately $61,000. Finally, NuWave Investment Management LLC lifted its stake in Laboratory Co. of America by 305.3% in the third quarter. NuWave Investment Management LLC now owns 308 shares of the medical research company’s stock valued at $58,000 after buying an additional 232 shares in the last quarter. 82.27% of the stock is owned by institutional investors.

Laboratory Co. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

Recommended Story: What is Forex?

Analyst Recommendations for Laboratory Co. of America (NYSE:LH)

Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.