StockNews.com Begins Coverage on Laboratory Co. of America (NYSE:LH)

StockNews.com initiated coverage on shares of Laboratory Co. of America (NYSE:LH – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the medical research company’s stock.

A number of other research analysts have also recently weighed in on LH. Wells Fargo & Company lowered their target price on shares of Laboratory Co. of America from $315.00 to $290.00 and set an overweight rating on the stock in a research note on Tuesday, February 21st. Mizuho lifted their target price on shares of Laboratory Co. of America from $250.00 to $277.00 and gave the company a buy rating in a research note on Friday, February 17th. Morgan Stanley lifted their target price on shares of Laboratory Co. of America from $290.00 to $303.00 and gave the company an overweight rating in a research note on Friday, January 6th. Robert W. Baird boosted their price target on shares of Laboratory Co. of America to $300.00 and gave the stock an outperform rating in a research note on Friday, February 17th. Finally, Credit Suisse Group decreased their price target on shares of Laboratory Co. of America from $304.00 to $288.00 and set an outperform rating on the stock in a research note on Monday, March 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Laboratory Co. of America presently has a consensus rating of Moderate Buy and a consensus target price of $283.50.

Laboratory Co. of America Trading Down 2.6 %

Shares of LH stock opened at $213.32 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.50 and a quick ratio of 1.35. Laboratory Co. of America has a 1 year low of $200.32 and a 1 year high of $281.22. The firm has a fifty day moving average price of $243.85 and a 200-day moving average price of $232.82. The company has a market cap of $18.88 billion, a price-to-earnings ratio of 15.39 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH – Get Rating) last released its earnings results on Thursday, February 16th. The medical research company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.06 by $0.08. Laboratory Co. of America had a net margin of 8.60% and a return on equity of 17.68%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the company earned $6.77 EPS. Laboratory Co. of America’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, equities analysts predict that Laboratory Co. of America will post 17.18 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 13th. Stockholders of record on Thursday, February 23rd were issued a $0.72 dividend. The ex-dividend date was Wednesday, February 22nd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.35%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 20.78%.

Insider Transactions at Laboratory Co. of America

In other news, CEO Paul R. Kirchgraber sold 8,000 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $250.58, for a total value of $2,004,640.00. Following the sale, the chief executive officer now directly owns 9,069 shares in the company, valued at approximately $2,272,510.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Mark S. Schroeder sold 309 shares of the business’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $247.63, for a total value of $76,517.67. Following the sale, the executive vice president now directly owns 6,687 shares in the company, valued at approximately $1,655,901.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Paul R. Kirchgraber sold 8,000 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $250.58, for a total transaction of $2,004,640.00. Following the completion of the sale, the chief executive officer now owns 9,069 shares in the company, valued at $2,272,510.02. The disclosure for this sale can be found here. Insiders have sold a total of 8,701 shares of company stock worth $2,178,302 in the last three months. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

Several hedge funds have recently added to or reduced their stakes in the company. Seeyond grew its holdings in Laboratory Co. of America by 0.6% during the 2nd quarter. Seeyond now owns 6,677 shares of the medical research company’s stock valued at $1,564,000 after purchasing an additional 39 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in Laboratory Co. of America by 45.6% during the 4th quarter. Zions Bancorporation N.A. now owns 131 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 41 shares during the last quarter. Yousif Capital Management LLC grew its holdings in Laboratory Co. of America by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 13,133 shares of the medical research company’s stock valued at $3,093,000 after purchasing an additional 42 shares during the last quarter. Hanson & Doremus Investment Management grew its holdings in Laboratory Co. of America by 4.1% during the 4th quarter. Hanson & Doremus Investment Management now owns 1,125 shares of the medical research company’s stock valued at $265,000 after purchasing an additional 44 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in Laboratory Co. of America by 4.0% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,167 shares of the medical research company’s stock valued at $306,000 after purchasing an additional 45 shares during the last quarter. 89.70% of the stock is currently owned by institutional investors.

Laboratory Co. of America Company Profile

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Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.