Hsbc Global Res Upgrades Laboratory Co. of America (NYSE:LH) to “Strong-Buy”

Hsbc Global Res upgraded shares of Laboratory Co. of America (NYSE:LH) from a hold rating to a strong-buy rating in a research report released on Wednesday morning, Zacks.com reports.

Several other brokerages have also commented on LH. Piper Sandler upped their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Robert W. Baird increased their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Bank of America increased their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. UBS Group increased their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.92.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $227.10 on Wednesday. The firm’s 50 day moving average price is $222.59 and its 200-day moving average price is $213.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America has a one year low of $191.97 and a one year high of $239.50. The firm has a market cap of $18.99 billion, a P/E ratio of 43.93, a P/E/G ratio of 1.88 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the business posted $3.38 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts predict that Laboratory Co. of America will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the transaction, the director now directly 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 document filed with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,679 shares of company stock valued at $6,946,306 in the last ninety days. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LH. Diamond Hill Capital Management Inc. lifted its stake in shares of Laboratory Co. of America by 25.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock worth $396,771,000 after acquiring an additional 395,197 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Laboratory Co. of America by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after acquiring an additional 263,105 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Laboratory Co. of America by 135.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock worth $327,616,000 after acquiring an additional 924,881 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Laboratory Co. of America by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,645 shares of the medical research company’s stock worth $288,519,000 after acquiring an additional 33,497 shares during the period. Finally, Cooke & Bieler LP lifted its stake in shares of Laboratory Co. of America by 26.8% in the 2nd quarter. Cooke & Bieler LP now owns 928,250 shares of the medical research company’s stock worth $188,908,000 after acquiring an additional 196,119 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Company Profile

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.