Laboratory Co. of America (NYSE:LH) Price Target Raised to $261.00 at JPMorgan Chase & Co.

Laboratory Co. of America (NYSE:LH) had its price target lifted by research analysts at JPMorgan Chase & Co. from $259.00 to $261.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 22.97% from the company’s current price.

Several other equities analysts have also issued reports on the company. Credit Suisse Group reduced their target price on Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating for the company in a report on Wednesday, August 2nd. Bank of America reduced their price target on shares of Laboratory Co. of America from $238.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday, September 21st. Robert W. Baird dropped their target price on shares of Laboratory Co. of America from $251.00 to $237.00 and set an “outperform” rating on the stock in a research note on Monday, September 18th. Morgan Stanley decreased their price target on shares of Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, August 3rd. Finally, UBS Group dropped their price objective on Laboratory Co. of America from $255.00 to $250.00 in a research note on Monday, September 18th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Laboratory Co. of America Stock Up 0.7 %

NYSE LH traded up $1.51 on Friday, reaching $212.24. The company had a trading volume of 112,048 shares, compared to its average volume of 755,940. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. The company’s fifty day moving average is $203.10 and its 200 day moving average is $213.06. Laboratory Co. of America has a 52-week low of $174.20 and a 52-week high of $222.33. The stock has a market capitalization of $18.02 billion, a P/E ratio of 28.35 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 26th. The medical research company reported $3.38 EPS for the quarter, beating the consensus estimate of $3.37 by $0.01. Laboratory Co. of America had a net margin of 4.88% and a return on equity of 14.09%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company posted $4.68 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts anticipate that Laboratory Co. of America will post 13.58 earnings per share for the current fiscal year.

Institutional Trading of Laboratory Co. of America

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Advisors Network LLC increased its stake in Laboratory Co. of America by 7.2% in the 3rd quarter. Integrated Advisors Network LLC now owns 2,357 shares of the medical research company’s stock worth $474,000 after acquiring an additional 159 shares during the last quarter. Creative Planning raised its stake in Laboratory Co. of America by 17.2% in the third quarter. Creative Planning now owns 9,678 shares of the medical research company’s stock valued at $1,946,000 after purchasing an additional 1,418 shares in the last quarter. Morgan Stanley lifted its position in Laboratory Co. of America by 102.6% during the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after purchasing an additional 1,123,755 shares during the last quarter. Penserra Capital Management LLC grew its stake in Laboratory Co. of America by 72.2% in the 3rd quarter. Penserra Capital Management LLC now owns 992 shares of the medical research company’s stock worth $198,000 after buying an additional 416 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Laboratory Co. of America by 9.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,905 shares of the medical research company’s stock worth $383,000 after buying an additional 172 shares during the last quarter. Institutional investors own 89.37% of the company’s stock.

Laboratory Co. of America Company Profile

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics and Labcorp Drug Development.