Laboratory Co. of America (NYSE:LH) had its target price hoisted by Citigroup from $278.00 to $312.00 in a research note released on Monday morning, The Fly reports.
Other equities analysts have also recently issued reports about the company. Jefferies Financial Group increased their target price on Laboratory Co. of America from $300.00 to $310.00 and gave the stock a buy rating in a report on Monday. JPMorgan Chase & Co. increased their target price on Laboratory Co. of America from $261.00 to $279.00 and gave the stock an overweight rating in a report on Friday, February 12th. Argus upgraded Laboratory Co. of America from a hold rating to a buy rating and set a $245.00 target price on the stock in a report on Monday, January 11th. Wolfe Research lowered Laboratory Co. of America from an outperform rating to a peer perform rating in a research report on Friday, January 8th. Finally, Mizuho increased their price target on Laboratory Co. of America from $242.00 to $267.00 and gave the company a buy rating in a research report on Friday, February 12th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $256.69.
Laboratory Co. of America stock opened at $267.33 on Monday. The stock has a market capitalization of $26.10 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 1.15 and a beta of 1.09. Laboratory Co. of America has a 52-week low of $155.19 and a 52-week high of $269.95. The stock’s 50 day moving average price is $254.07 and its two-hundred day moving average price is $225.40. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.23 and a current ratio of 1.36.
In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 2,317 shares of the firm’s stock in a transaction dated Thursday, February 18th. The stock was sold at an average price of $241.51, for a total value of $559,578.67. Following the completion of the transaction, the chief accounting officer now owns 710 shares in the company, valued at approximately $171,472.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark S. Schroeder sold 667 shares of the firm’s stock in a transaction dated Tuesday, March 30th. The stock was sold at an average price of $251.88, for a total value of $168,003.96. Following the completion of the transaction, the executive vice president now owns 5,006 shares of the company’s stock, valued at approximately $1,260,911.28. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of LH. Norges Bank bought a new stake in shares of Laboratory Co. of America during the 4th quarter valued at about $185,229,000. Veritas Investment Partners UK Ltd. bought a new stake in Laboratory Co. of America in the 4th quarter worth approximately $151,974,000. Assenagon Asset Management S.A. purchased a new position in Laboratory Co. of America in the 4th quarter worth approximately $101,866,000. Morgan Stanley increased its stake in Laboratory Co. of America by 56.6% in the 4th quarter. Morgan Stanley now owns 1,214,677 shares of the medical research company’s stock worth $247,247,000 after purchasing an additional 439,086 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Laboratory Co. of America by 1,237.2% during the fourth quarter. Renaissance Technologies LLC now owns 335,705 shares of the medical research company’s stock valued at $68,333,000 after buying an additional 310,600 shares during the period. Hedge funds and other institutional investors own 89.31% of the company’s stock.
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 (Dx) and Labcorp Drug Development (DD). It offers various 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.
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