Laboratory Co. of America (NYSE:LH – Get Free Report) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $259.00 to $261.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 22.97% from the stock’s current price.
A number of other brokerages have also issued reports on LH. Wells Fargo & Company cut their price target on shares of Laboratory Co. of America from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, August 14th. TheStreet lowered Laboratory Co. of America from a “b-” rating to a “c” rating in a research note on Thursday, October 26th. Truist Financial reiterated a “buy” rating and set a $270.00 price target on shares of Laboratory Co. of America in a research note on Friday, September 15th. Morgan Stanley reduced their price objective on 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, Bank of America dropped their target price on Laboratory Co. of America from $238.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, September 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.67.
Laboratory Co. of America Stock Up 0.7 %
Laboratory Co. of America (NYSE:LH – Get Free Report) last issued its quarterly earnings results on Thursday, October 26th. The medical research company reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.01. Laboratory Co. of America had a return on equity of 14.09% and a net margin of 4.88%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the company earned $4.68 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities analysts forecast that Laboratory Co. of America will post 13.58 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LH. WealthPLAN Partners LLC acquired a new position in shares of Laboratory Co. of America during the 1st quarter worth approximately $25,000. Eagle Bay Advisors LLC acquired a new position in Laboratory Co. of America during the second quarter worth $29,000. Provence Wealth Management Group purchased a new position in Laboratory Co. of America during the third quarter valued at $29,000. Tradewinds Capital Management LLC acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at about $34,000. Finally, Clear Street Markets LLC increased its stake in shares of Laboratory Co. of America by 93.3% during the first quarter. Clear Street Markets LLC now owns 174 shares of the medical research company’s stock worth $40,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
About Laboratory Co. of America
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.
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