Goldman Sachs Group Inc. Increases Laboratory Corp. of America Holdings Price Target to $98.00 (LH)
Equities research analysts at Goldman Sachs Group Inc. raised their price target on shares of Laboratory Corp. of America Holdings (NYSE:LH) from $91.00 to $98.00 in a research note issued to investors on Wednesday, AnalystRatingsNetwork reports. Goldman Sachs Group Inc.’s price objective would indicate a potential downside of 1.83% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Cantor Fitzgerald initiated coverage on shares of Laboratory Corp. of America Holdings (NYSE:LH) in a research note to investors on Thursday, September 12th. They set a “buy” rating and a $100.05 price target on the stock. Separately, analysts at Craig Hallum initiated coverage on shares of Laboratory Corp. of America Holdings (NYSE:LH) in a research note to investors on Wednesday, August 28th. They set a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Laboratory Corp. of America Holdings (NYSE:LH) in a research note to investors on Monday, July 29th. They now have a $103.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $100.62.
Shares of Laboratory Corp. of America Holdings (NYSE:LH) traded up 0.89% during mid-day trading on Wednesday, hitting $99.83. The stock had a trading volume of 643,144 shares. Laboratory Corp. of America Holdings has a 1-year low of $82.15 and a 1-year high of $101.92. The stock’s 50-day moving average is $98.2 and its 200-day moving average is $96.77. The company has a market cap of $8.995 billion and a price-to-earnings ratio of 16.57.
Laboratory Corp. of America Holdings (NYSE:LH) last posted its quarterly earnings results on Friday, July 19th. The company reported $1.80 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.80. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Laboratory Corp. of America Holdings will post $7.05 earnings per share for the current fiscal year.
In other Laboratory Corp. of America Holdings news, CEO David King sold 25,000 shares of the stock on the open market in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $99.06, for a total value of $2,476,500.00. Following the completion of the transaction, the chief executive officer now directly owns 63,628 shares in the company, valued at approximately $6,302,990. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Laboratory Corporation of America Holdings is a clinical laboratory company in the United States. Through a national network of laboratories, the Company offers a range of testing services used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease.
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