Analysts Set Laboratory Corp. of America Holdings (NYSE:LH) Price Target at $184.90

Shares of Laboratory Corp. of America Holdings (NYSE:LH) have been assigned an average recommendation of “Hold” from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $185.66.

LH has been the subject of a number of analyst reports. Canaccord Genuity reissued a “hold” rating and issued a $170.00 price target on shares of Laboratory Corp. of America in a report on Thursday, October 24th. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price target for the company in a report on Wednesday, October 9th. Morgan Stanley boosted their price target on Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. UBS Group dropped their target price on Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, ValuEngine lowered Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research note on Tuesday.

Shares of NYSE LH traded up $1.53 during trading on Wednesday, reaching $171.82. The company had a trading volume of 500,200 shares, compared to its average volume of 710,156. Laboratory Corp. of America has a twelve month low of $119.38 and a twelve month high of $178.44. The stock has a market capitalization of $16.73 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03. The stock has a 50-day moving average price of $168.73 and a two-hundred day moving average price of $168.63. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.93.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.05. Laboratory Corp. of America had a return on equity of 15.33% and a net margin of 6.63%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the previous year, the firm posted $2.74 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts predict that Laboratory Corp. of America will post 11.26 EPS for the current year.

In other Laboratory Corp. of America news, CEO David P. King sold 30,177 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $165.40, for a total transaction of $4,991,275.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 2,600 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $171.85, for a total value of $446,810.00. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Legacy Advisors LLC bought a new stake in shares of Laboratory Corp. of America during the second quarter valued at approximately $33,000. OLD National Bancorp IN raised its position in shares of Laboratory Corp. of America by 3.9% during the second quarter. OLD National Bancorp IN now owns 5,021 shares of the medical research company’s stock valued at $868,000 after buying an additional 188 shares during the last quarter. Forte Capital LLC ADV raised its position in shares of Laboratory Corp. of America by 6.0% during the second quarter. Forte Capital LLC ADV now owns 34,248 shares of the medical research company’s stock valued at $5,921,000 after buying an additional 1,925 shares during the last quarter. Cornerstone Advisors Inc. raised its position in shares of Laboratory Corp. of America by 21.3% during the second quarter. Cornerstone Advisors Inc. now owns 678 shares of the medical research company’s stock valued at $117,000 after buying an additional 119 shares during the last quarter. Finally, MainStreet Investment Advisors LLC bought a new stake in shares of Laboratory Corp. of America during the second quarter valued at approximately $220,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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