Shares of Laboratory Corp. of America Holdings (NYSE:LH) have earned an average rating of “Hold” from the nineteen ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $184.90.
Several research firms have recently weighed in on LH. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 target price on the stock in a research report on Wednesday, October 9th. Canaccord Genuity reissued a “hold” rating and set a $170.00 target price on shares of Laboratory Corp. of America in a research report on Thursday, October 24th. UBS Group cut their target price on Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Morgan Stanley boosted their target price on Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, KeyCorp boosted their target price on Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th.
In related news, Director Kerrii B. Anderson sold 2,600 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $171.85, for a total transaction of $446,810.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa J. Uthgenannt sold 2,466 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $168.59, for a total value of $415,742.94. The disclosure for this sale can be found here. Insiders sold a total of 35,243 shares of company stock valued at $5,853,829 over the last quarter. Company insiders own 0.74% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of LH. Financial Advantage Inc. purchased a new stake in shares of Laboratory Corp. of America during the 3rd quarter worth $26,000. Steward Partners Investment Advisory LLC acquired a new position in Laboratory Corp. of America during the 2nd quarter valued at about $32,000. Legacy Advisors LLC acquired a new position in Laboratory Corp. of America during the 2nd quarter valued at about $33,000. C M Bidwell & Associates Ltd. increased its position in Laboratory Corp. of America by 1,636.4% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock valued at $33,000 after buying an additional 180 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Laboratory Corp. of America during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.
NYSE LH traded up $0.31 during trading hours on Wednesday, reaching $172.60. The company’s stock had a trading volume of 637,100 shares, compared to its average volume of 712,117. The firm’s 50-day moving average price is $168.13 and its 200-day moving average price is $168.45. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 0.93. Laboratory Corp. of America has a 1 year low of $119.38 and a 1 year high of $178.44. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.61 and a beta of 1.03.
Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $2.90 earnings per share (EPS) 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 business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the previous year, the company posted $2.74 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Laboratory Corp. of America will post 11.26 EPS for the current fiscal year.
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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