Laboratory Corp. of America Holdings (NYSE:LH) Receives $178.36 Average PT from Brokerages

Shares of Laboratory Corp. of America Holdings (NYSE:LH) have earned an average rating of “Hold” from the twenty-one brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $178.36.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Thursday, May 16th. Mizuho upped their price target on shares of Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. TheStreet raised shares of Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research note on Friday, May 3rd. Canaccord Genuity upped their price target on shares of Laboratory Corp. of America from $155.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Finally, Citigroup upped their price target on shares of Laboratory Corp. of America from $157.00 to $176.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st.

In related news, Director R Sanders Williams sold 500 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $162.20, for a total value of $81,100.00. Following the completion of the sale, the director now directly owns 7,386 shares in the company, valued at $1,198,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn A. Eisenberg sold 10,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $167.40, for a total transaction of $1,674,000.00. Following the completion of the sale, the chief financial officer now owns 28,366 shares of the company’s stock, valued at $4,748,468.40. The disclosure for this sale can be found here. Insiders sold 18,200 shares of company stock valued at $3,026,410 over the last quarter. 0.74% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. First Pacific Advisors LP boosted its holdings in Laboratory Corp. of America by 11.2% during the first quarter. First Pacific Advisors LP now owns 24,600 shares of the medical research company’s stock valued at $3,763,000 after acquiring an additional 2,470 shares during the period. GYL Financial Synergies LLC bought a new stake in Laboratory Corp. of America during the first quarter valued at about $225,000. Allstate Corp bought a new stake in Laboratory Corp. of America during the first quarter valued at about $403,000. Horizon Investments LLC bought a new stake in Laboratory Corp. of America during the first quarter valued at about $229,000. Finally, FMR LLC boosted its holdings in Laboratory Corp. of America by 81.4% during the first quarter. FMR LLC now owns 1,596,659 shares of the medical research company’s stock valued at $244,257,000 after acquiring an additional 716,703 shares during the period. Institutional investors own 91.56% of the company’s stock.

Shares of NYSE LH traded down $0.14 during mid-day trading on Wednesday, reaching $166.47. The company had a trading volume of 683,200 shares, compared to its average volume of 826,871. Laboratory Corp. of America has a twelve month low of $119.38 and a twelve month high of $190.07. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $16.62 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Tuesday, April 30th. The medical research company reported $2.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.09. Laboratory Corp. of America had a net margin of 8.59% and a return on equity of 16.59%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business posted $2.78 earnings per share. Laboratory Corp. of America’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts predict that Laboratory Corp. of America will post 11.27 EPS for the current 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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Analyst Recommendations for Laboratory Corp. of America (NYSE:LH)

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