Brokerages Set Laboratory Corp. of America Holdings (NYSE:LH) Target Price at $184.90

Laboratory Corp. of America Holdings (NYSE:LH) has been assigned an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $184.90.

A number of research analysts recently issued reports on the company. UBS Group decreased their target price on Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a report on Monday, October 21st. KeyCorp lifted their target price on Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Canaccord Genuity reiterated a “hold” rating and issued a $170.00 target price on shares of Laboratory Corp. of America in a report on Thursday, October 24th. Morgan Stanley lifted their target price on Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Zacks Investment Research upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 target price for the company in a report on Wednesday, October 9th.

In other Laboratory Corp. of America news, CEO David P. King sold 30,177 shares of Laboratory Corp. of America stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $165.40, for a total transaction of $4,991,275.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 2,600 shares of Laboratory Corp. of America stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $171.85, for a total value of $446,810.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,243 shares of company stock valued at $5,853,829 over the last ninety days. 0.74% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in LH. Nuveen Asset Management LLC lifted its holdings in shares of Laboratory Corp. of America by 10,436.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,022,410 shares of the medical research company’s stock valued at $176,775,000 after purchasing an additional 1,012,706 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Laboratory Corp. of America by 93.4% in the 2nd quarter. Invesco Ltd. now owns 1,184,747 shares of the medical research company’s stock valued at $204,844,000 after purchasing an additional 572,088 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of Laboratory Corp. of America by 496.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 557,585 shares of the medical research company’s stock valued at $96,406,000 after purchasing an additional 464,161 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Laboratory Corp. of America in the 2nd quarter valued at about $39,089,000. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Laboratory Corp. of America in the 2nd quarter valued at about $34,132,000. 90.88% of the stock is owned by institutional investors.

Shares of NYSE LH traded up $0.31 during trading on Wednesday, reaching $172.60. The stock had a trading volume of 637,100 shares, compared to its average volume of 712,117. Laboratory Corp. of America has a fifty-two week low of $119.38 and a fifty-two week high of $178.44. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.08 and a current ratio of 1.17. The business’s 50-day moving average price is $168.13 and its 200-day moving average price is $168.45. The company has a market cap of $16.73 billion, a P/E 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 earnings results on Thursday, October 24th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.85 by $0.05. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.91 billion. Laboratory Corp. of America had a return on equity of 15.33% and a net margin of 6.63%. Laboratory Corp. of America’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $2.74 earnings per share. Analysts forecast that Laboratory Corp. of America will post 11.26 EPS for the current fiscal year.

Laboratory Corp. of America Company Profile

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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