UBS Group Reiterates $178.00 Price Target for Laboratory Corp. of America (LH)

UBS Group set a $178.00 price target on Laboratory Corp. of America (NYSE:LH) in a research note published on Friday, www.stocktargetadvisor.com reports. The firm currently has a buy rating on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the stock. Goldman Sachs Group reduced their target price on shares of Laboratory Corp. of America to $190.00 in a research report on Sunday, December 2nd. Morgan Stanley reduced their target price on shares of Laboratory Corp. of America from $202.00 to $180.00 in a research report on Sunday, December 9th. Bank of America started coverage on shares of Laboratory Corp. of America in a research report on Friday, October 19th. They issued a buy rating for the company. William Blair reiterated a buy rating on shares of Laboratory Corp. of America in a research report on Monday, December 3rd. Finally, SunTrust Banks reduced their target price on shares of Laboratory Corp. of America to $175.00 and set a buy rating for the company in a research report on Monday, December 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $178.27.

NYSE:LH opened at $144.83 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.51 and a debt-to-equity ratio of 0.87. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.64 and a beta of 1.13. Laboratory Corp. of America has a fifty-two week low of $119.38 and a fifty-two week high of $190.35.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 7th. The medical research company reported $2.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.48 by $0.04. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Laboratory Corp. of America had a net margin of 8.43% and a return on equity of 17.05%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.45 earnings per share. As a group, equities research analysts predict that Laboratory Corp. of America will post 11.21 EPS for the current year.

In related news, Director R Sanders Williams sold 350 shares of the company’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $162.14, for a total value of $56,749.00. Following the completion of the sale, the director now owns 7,886 shares of the company’s stock, valued at $1,278,636.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Bailard Inc. boosted its stake in Laboratory Corp. of America by 5.2% during the fourth quarter. Bailard Inc. now owns 1,825 shares of the medical research company’s stock worth $231,000 after buying an additional 90 shares during the period. White Pine Investment CO boosted its stake in Laboratory Corp. of America by 0.4% during the fourth quarter. White Pine Investment CO now owns 24,878 shares of the medical research company’s stock worth $3,144,000 after buying an additional 90 shares during the period. Lee Financial Group Hawaii Inc. boosted its stake in Laboratory Corp. of America by 0.6% during the fourth quarter. Lee Financial Group Hawaii Inc. now owns 16,761 shares of the medical research company’s stock worth $2,118,000 after buying an additional 108 shares during the period. ETF Managers Group LLC boosted its stake in Laboratory Corp. of America by 17.7% during the fourth quarter. ETF Managers Group LLC now owns 817 shares of the medical research company’s stock worth $103,000 after buying an additional 123 shares during the period. Finally, Condor Capital Management boosted its stake in Laboratory Corp. of America by 1.2% during the fourth quarter. Condor Capital Management now owns 10,225 shares of the medical research company’s stock worth $1,292,000 after buying an additional 123 shares during the period. 91.97% of the stock is owned by institutional investors.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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Analyst Recommendations for Laboratory Corp. of America (NYSE:LH)

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