Laboratory Corp. of America Holdings (NYSE:LH) Given Consensus Rating of “Buy” by Analysts

Laboratory Corp. of America Holdings (NYSE:LH) has been given a consensus recommendation of “Buy” by the twenty-one analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $182.91.

A number of brokerages recently commented on LH. Deutsche Bank restated a “buy” rating and set a GBX 2,450 ($32.01) price target on shares of in a research note on Thursday, June 20th. Barclays set a $330.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Monday, July 15th. Zacks Investment Research cut shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Morgan Stanley set a $112.00 price target on shares of Tractor Supply and gave the company a “hold” rating in a research note on Friday. Finally, UBS Group cut shares of Advanced Disposal Services from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Wednesday, May 1st. They noted that the move was a valuation call.

LH traded up $3.32 during midday trading on Thursday, reaching $170.62. The company had a trading volume of 759,064 shares, compared to its average volume of 799,402. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $16.48 billion, a PE ratio of 15.48, a PEG ratio of 1.52 and a beta of 1.04. Laboratory Corp. of America has a 12-month low of $119.38 and a 12-month high of $182.75. The business’s 50-day moving average price is $171.76.

Laboratory Corp. of America (NYSE:LH) last released its earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.03. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $2.98 earnings per share. Analysts anticipate that Laboratory Corp. of America will post 11.29 EPS for the current year.

In other Laboratory Corp. of America news, insider Lisa J. Uthgenannt sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $164.00, for a total value of $656,000.00. Following the sale, the insider now directly owns 4,638 shares in the company, valued at approximately $760,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Der Vaart Sandra D. Van sold 2,328 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $176.75, for a total transaction of $411,474.00. Following the completion of the sale, the senior vice president now owns 2,328 shares in the company, valued at $411,474. The disclosure for this sale can be found here. Insiders sold a total of 29,191 shares of company stock worth $4,948,144 over the last quarter. Corporate insiders own 0.74% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV increased its holdings in shares of Laboratory Corp. of America by 1.1% in the 2nd quarter. KBC Group NV now owns 87,908 shares of the medical research company’s stock worth $15,199,000 after buying an additional 973 shares during the last quarter. WESPAC Advisors SoCal LLC increased its holdings in shares of Laboratory Corp. of America by 32.4% in the 2nd quarter. WESPAC Advisors SoCal LLC now owns 4,535 shares of the medical research company’s stock worth $784,000 after buying an additional 1,110 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Laboratory Corp. of America by 1.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 27,422 shares of the medical research company’s stock worth $4,741,000 after buying an additional 482 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Laboratory Corp. of America by 10.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,905 shares of the medical research company’s stock worth $4,133,000 after buying an additional 2,234 shares during the last quarter. Finally, Private Ocean LLC increased its holdings in shares of Laboratory Corp. of America by 54.3% in the 2nd quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock worth $36,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

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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