Laboratory Corporation of America Holdings (LH) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Laboratory Corporation of America Holdings (NYSE:LH) from a hold rating to a buy rating in a research note released on Saturday.

A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Laboratory Corporation of America Holdings from a hold rating to a sell rating in a research note on Wednesday, April 19th. Barclays PLC raised their price objective on Laboratory Corporation of America Holdings from $165.00 to $175.00 and gave the company an overweight rating in a research note on Tuesday, March 7th. Jefferies Group LLC cut their price objective on Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a hold rating on the stock in a research note on Friday, April 28th. Credit Suisse Group reissued a buy rating and issued a $146.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Sunday, May 28th. Finally, ValuEngine downgraded Laboratory Corporation of America Holdings from a buy rating to a hold rating in a research note on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Laboratory Corporation of America Holdings currently has a consensus rating of Buy and a consensus target price of $155.75.

Analyst Recommendations for Laboratory Corporation of America Holdings (NYSE:LH)

Laboratory Corporation of America Holdings (LH) traded up 0.26% during trading on Friday, reaching $140.77. The company’s stock had a trading volume of 764,011 shares. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $146.63. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 19.34 and a beta of 0.99. The stock’s 50-day moving average is $140.42 and its 200 day moving average is $137.36.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Tuesday, April 25th. The medical research company reported $2.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.03. Laboratory Corporation of America Holdings had a return on equity of 16.99% and a net margin of 7.76%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business earned $2.02 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Laboratory Corporation of America Holdings will post $9.44 EPS for the current fiscal year.

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In other Laboratory Corporation of America Holdings news, SVP Lance Berberian sold 3,613 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total value of $505,241.92. Following the transaction, the senior vice president now directly owns 5,789 shares of the company’s stock, valued at approximately $809,533.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jean-Luc Belingard sold 992 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $142.19, for a total value of $141,052.48. Following the completion of the transaction, the director now directly owns 32,935 shares in the company, valued at $4,683,027.65. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Stonebridge Capital Advisors LLC increased its position in shares of Laboratory Corporation of America Holdings by 0.5% in the first quarter. Stonebridge Capital Advisors LLC now owns 19,755 shares of the medical research company’s stock valued at $2,834,000 after buying an additional 90 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at approximately $2,959,000. Bank of Nova Scotia increased its position in shares of Laboratory Corporation of America Holdings by 926.8% in the first quarter. Bank of Nova Scotia now owns 23,422 shares of the medical research company’s stock valued at $3,361,000 after buying an additional 21,141 shares in the last quarter. Adalta Capital Management LLC acquired a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at approximately $463,000. Finally, Summit Global Investments increased its position in shares of Laboratory Corporation of America Holdings by 62.0% in the first quarter. Summit Global Investments now owns 9,862 shares of the medical research company’s stock valued at $1,415,000 after buying an additional 3,773 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors.

Laboratory Corporation of America Holdings Company Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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