Laboratory Corp. of America Holdings (NYSE:LH) has been assigned a consensus recommendation of “Buy” from the nineteen brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $193.27.
A number of brokerages have issued reports on LH. KeyCorp raised Laboratory Corp. of America from a “sector weight” rating to an “overweight” rating and set a $210.00 price objective for the company in a report on Thursday, June 7th. Mizuho reissued a “hold” rating on shares of Laboratory Corp. of America in a report on Friday, May 25th. Barclays lifted their price objective on Laboratory Corp. of America from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, May 25th. Zacks Investment Research cut Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Monday, April 30th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $176.00 price objective on shares of Laboratory Corp. of America in a report on Tuesday, March 6th.
Laboratory Corp. of America traded up $1.55, hitting $189.13, during midday trading on Tuesday, MarketBeat reports. The stock had a trading volume of 666,920 shares, compared to its average volume of 743,644. The stock has a market cap of $19.11 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 1.64 and a beta of 0.93. Laboratory Corp. of America has a 52 week low of $146.68 and a 52 week high of $190.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.38 and a quick ratio of 1.27.
Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Wednesday, April 25th. The medical research company reported $2.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.63 by $0.15. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Laboratory Corp. of America had a return on equity of 16.33% and a net margin of 11.52%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the business earned $2.22 earnings per share. equities research analysts anticipate that Laboratory Corp. of America will post 11.56 EPS for the current year.
In related news, insider Edward T. Dodson sold 13,000 shares of Laboratory Corp. of America stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $183.35, for a total value of $2,383,550.00. Following the completion of the sale, the insider now directly owns 22,113 shares in the company, valued at $4,054,418.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO M. Huff Gary sold 1,610 shares of Laboratory Corp. of America stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $182.50, for a total value of $293,825.00. Following the completion of the sale, the chief executive officer now owns 1,610 shares of the company’s stock, valued at $293,825. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,043 shares of company stock valued at $22,371,980. Corporate insiders own 0.73% of the company’s stock.
A number of hedge funds have recently made changes to their positions in LH. Amundi Pioneer Asset Management Inc. grew its position in shares of Laboratory Corp. of America by 532.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 835,557 shares of the medical research company’s stock worth $135,151,000 after buying an additional 703,375 shares during the period. Bridger Management LLC acquired a new position in shares of Laboratory Corp. of America during the 4th quarter worth about $100,996,000. Boston Partners grew its position in shares of Laboratory Corp. of America by 7.8% during the 1st quarter. Boston Partners now owns 5,673,767 shares of the medical research company’s stock worth $917,732,000 after buying an additional 409,742 shares during the period. Rothschild Asset Management Inc. acquired a new position in shares of Laboratory Corp. of America during the 1st quarter worth about $50,297,000. Finally, BlackRock Inc. grew its position in shares of Laboratory Corp. of America by 2.0% during the 4th quarter. BlackRock Inc. now owns 7,970,872 shares of the medical research company’s stock worth $1,271,436,000 after buying an additional 159,639 shares during the period. Hedge funds and other institutional investors own 92.16% 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.
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