Laboratory Corp. of America Holdings Price Target Raised to $103.00 at Piper Jaffray Cos. (LH)
Investment analysts at Piper Jaffray Cos. upped their price target on shares of Laboratory Corp. of America Holdings (NYSE:LH) from $98.00 to $103.00 in a note issued to investors on Monday, Analyst Ratings Network.com reports. The firm currently has a “neutral” rating on the stock. Piper Jaffray Cos.’s price objective points to a potential upside of 3.71% from the stock’s previous close.
Shares of Laboratory Corp. of America Holdings (NYSE:LH) traded down 0.88% during mid-day trading on Monday, hitting $99.32. The stock had a trading volume of 702,665 shares. Laboratory Corp. of America Holdings has a 52-week low of $82.15 and a 52-week high of $104.37. The stock has a 50-day moving average of $99.62 and a 200-day moving average of $97.77. The company has a market cap of $9.028 billion and a P/E ratio of 16.51.
Laboratory Corp. of America Holdings (NYSE:LH) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.80. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that Laboratory Corp. of America Holdings will post $7.03 earnings per share for the current fiscal year.
LH has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Laboratory Corp. of America Holdings from $91.00 to $98.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Separately, analysts at Cantor Fitzgerald initiated coverage on shares of Laboratory Corp. of America Holdings in a research note to investors on Thursday, September 12th. They set a “buy” rating and a $100.05 price target on the stock. Finally, analysts at Craig Hallum initiated coverage on shares of Laboratory Corp. of America Holdings in a research note to investors on Wednesday, August 28th. They set a “buy” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $101.00.
In other Laboratory Corp. of America Holdings news, COO James T. Jr. Boyle sold 24,400 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $102.00, for a total transaction of $2,488,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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