Jefferies Group LLC Analysts Give Laboratory Corporation of America Holdings (LH) a $167.00 Price Target

Jefferies Group LLC set a $167.00 price objective on Laboratory Corporation of America Holdings (NYSE:LH) in a report issued on Friday morning. The firm currently has a hold rating on the medical research company’s stock. Jefferies Group also issued estimates for Laboratory Corporation of America’s Q1 2018 earnings at $2.37 EPS, Q2 2018 earnings at $2.68 EPS, Q3 2018 earnings at $2.71 EPS, Q4 2018 earnings at $2.63 EPS and FY2018 earnings at $10.38 EPS.

Other research analysts have also issued research reports about the company. Craig Hallum reiterated a buy rating and issued a $179.00 price target (up previously from $157.00) on shares of Laboratory Corporation of America in a report on Thursday, July 27th. ValuEngine downgraded Laboratory Corporation of America from a buy rating to a hold rating in a research note on Tuesday, September 26th. Zacks Investment Research downgraded Laboratory Corporation of America from a buy rating to a hold rating in a research note on Tuesday, September 26th. Robert W. Baird reissued a hold rating and issued a $166.00 price objective on shares of Laboratory Corporation of America in a research note on Tuesday, October 17th. Finally, Barclays PLC increased their price objective on Laboratory Corporation of America from $183.00 to $190.00 and gave the stock an overweight rating in a research note on Thursday, October 26th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Laboratory Corporation of America presently has a consensus rating of Buy and a consensus target price of $168.75.

Laboratory Corporation of America (LH) opened at $151.09 on Friday. The stock has a market capitalization of $15,480.00, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 1.18. Laboratory Corporation of America has a fifty-two week low of $123.36 and a fifty-two week high of $164.22.

Laboratory Corporation of America (NYSE:LH) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.08. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Laboratory Corporation of America had a return on equity of 16.75% and a net margin of 7.40%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. equities analysts expect that Laboratory Corporation of America will post 9.52 EPS for the current year.

In related news, Director Dwight Gary Gilliland sold 971 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $153.52, for a total transaction of $149,067.92. Following the completion of the sale, the director now directly owns 3,501 shares of the company’s stock, valued at $537,473.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David P. King sold 44,687 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $156.86, for a total value of $7,009,602.82. Following the sale, the chief executive officer now directly owns 258,753 shares of the company’s stock, valued at $40,587,995.58. The disclosure for this sale can be found here. Insiders have sold 178,371 shares of company stock valued at $28,002,575 over the last ninety days. 0.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Zions Bancorporation increased its position in Laboratory Corporation of America by 7,444.4% in the third quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock worth $103,000 after buying an additional 670 shares during the last quarter. Acrospire Investment Management LLC increased its position in Laboratory Corporation of America by 16.5% in the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock worth $109,000 after buying an additional 100 shares during the last quarter. Sun Life Financial INC increased its position in Laboratory Corporation of America by 9,200.0% in the second quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock worth $115,000 after buying an additional 736 shares during the last quarter. IFP Advisors Inc increased its position in Laboratory Corporation of America by 83.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock worth $177,000 after buying an additional 523 shares during the last quarter. Finally, Hourglass Capital LLC purchased a new stake in Laboratory Corporation of America in the second quarter worth $200,000. 92.96% of the stock is owned by institutional investors.

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About Laboratory Corporation of America

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

Analyst Recommendations for Laboratory Corporation of America (NYSE:LH)

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