Analysts Set Laboratory Corp. of America Holdings (LH) PT at $195.44

Shares of Laboratory Corp. of America Holdings (NYSE:LH) have received a consensus recommendation of “Buy” from the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $195.44.

Several analysts have recently issued reports on the stock. Mizuho reissued a “hold” rating and set a $189.00 price objective on shares of Laboratory Corp. of America in a research note on Thursday, July 26th. ValuEngine lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Canaccord Genuity restated a “buy” rating and set a $200.00 target price on shares of Laboratory Corp. of America in a report on Tuesday, July 24th. SunTrust Banks restated a “buy” rating and set a $220.00 target price on shares of Laboratory Corp. of America in a report on Friday, July 20th. Finally, Deutsche Bank lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a report on Wednesday, June 27th.

Shares of Laboratory Corp. of America traded down $0.35, hitting $179.59, during trading on Thursday, according to Marketbeat Ratings. 362,117 shares of the company traded hands, compared to its average volume of 849,737. Laboratory Corp. of America has a 1 year low of $146.68 and a 1 year high of $190.35. The stock has a market capitalization of $18.34 billion, a PE ratio of 18.71, a P/E/G ratio of 1.73 and a beta of 0.98. The company has a quick ratio of 1.32, a current ratio of 1.42 and a debt-to-equity ratio of 0.86.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.06. Laboratory Corp. of America had a net margin of 11.59% and a return on equity of 16.38%. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the company earned $2.47 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. equities research analysts expect that Laboratory Corp. of America will post 11.55 EPS for the current fiscal year.

In other Laboratory Corp. of America news, insider Edward T. Dodson sold 13,000 shares of the business’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $183.35, for a total value of $2,383,550.00. Following the transaction, the insider now owns 22,113 shares in the company, valued at approximately $4,054,418.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David P. King sold 49,966 shares of the business’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $175.37, for a total transaction of $8,762,537.42. Following the completion of the transaction, the chief executive officer now owns 271,635 shares in the company, valued at approximately $47,636,629.95. The disclosure for this sale can be found here. Insiders sold a total of 79,076 shares of company stock worth $14,071,462 in the last quarter. 0.73% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. ING Groep NV raised its stake in shares of Laboratory Corp. of America by 5.2% in the 2nd quarter. ING Groep NV now owns 10,953 shares of the medical research company’s stock valued at $1,966,000 after purchasing an additional 542 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Laboratory Corp. of America by 0.5% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 70,777 shares of the medical research company’s stock valued at $12,707,000 after purchasing an additional 348 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Laboratory Corp. of America by 31.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,857 shares of the medical research company’s stock valued at $1,949,000 after purchasing an additional 2,593 shares in the last quarter. Tyers Asset Management LLC raised its stake in shares of Laboratory Corp. of America by 32.8% in the 2nd quarter. Tyers Asset Management LLC now owns 10,096 shares of the medical research company’s stock valued at $1,812,000 after purchasing an additional 2,496 shares in the last quarter. Finally, Sentry Investment Management LLC raised its stake in shares of Laboratory Corp. of America by 243.8% in the 2nd quarter. Sentry Investment Management LLC now owns 24,348 shares of the medical research company’s stock valued at $4,371,000 after purchasing an additional 17,266 shares in the last quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.

Laboratory Corp. of America Company Profile

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.

Further Reading: Short Selling

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

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