ValuEngine downgraded shares of Laboratory Corp. of America (NYSE:LH) from a hold rating to a sell rating in a research report sent to investors on Monday morning.
LH has been the topic of a number of other reports. Citigroup reduced their target price on shares of Laboratory Corp. of America from $184.00 to $171.00 and set a neutral rating on the stock in a research report on Thursday, October 25th. Zacks Investment Research downgraded shares of Laboratory Corp. of America from a hold rating to a sell rating in a research report on Friday, November 30th. Bank of America initiated coverage on shares of Laboratory Corp. of America in a research report on Friday, October 19th. They issued a buy rating on the stock. Goldman Sachs Group downgraded shares of Laboratory Corp. of America from a conviction-buy rating to a buy rating and reduced their target price for the stock from $190.00 to $180.00 in a research report on Friday, November 30th. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $155.00 target price (down from $162.00) on shares of Laboratory Corp. of America in a research report on Sunday, December 2nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Laboratory Corp. of America currently has an average rating of Hold and an average price target of $179.07.
Shares of NYSE:LH traded up $0.65 during midday trading on Monday, reaching $130.34. The company’s stock had a trading volume of 6,386 shares, compared to its average volume of 1,167,483. The company has a market capitalization of $12.91 billion, a PE ratio of 13.58, a P/E/G ratio of 1.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44. Laboratory Corp. of America has a 12-month low of $119.38 and a 12-month high of $190.35.
Laboratory Corp. of America (NYSE:LH) last released its earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.88 by ($0.14). The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.46 earnings per share. Equities analysts anticipate that Laboratory Corp. of America will post 10.99 EPS for the current fiscal year.
In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 3,700 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $163.29, for a total transaction of $604,173.00. Following the transaction, the director now owns 21,795 shares in the company, valued at approximately $3,558,905.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Sanders Williams sold 350 shares of the company’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $162.14, for a total transaction of $56,749.00. Following the transaction, the director now owns 7,886 shares in the company, valued at approximately $1,278,636.04. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. CENTRAL TRUST Co lifted its stake in Laboratory Corp. of America by 22.0% during the 4th quarter. CENTRAL TRUST Co now owns 1,301 shares of the medical research company’s stock valued at $164,000 after acquiring an additional 235 shares during the period. Chesley Taft & Associates LLC lifted its stake in Laboratory Corp. of America by 26.9% during the 4th quarter. Chesley Taft & Associates LLC now owns 5,330 shares of the medical research company’s stock valued at $673,000 after acquiring an additional 1,130 shares during the period. Private Trust Co. NA bought a new position in Laboratory Corp. of America during the 4th quarter valued at about $416,000. Pensionfund DSM Netherlands bought a new position in Laboratory Corp. of America during the 4th quarter valued at about $1,668,000. Finally, Pensionfund Sabic bought a new position in Laboratory Corp. of America during the 4th quarter valued at about $1,238,000. Institutional investors and hedge funds own 90.90% 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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