Laboratory Corp. of America Holdings Given Average Rating of “Hold” by Analysts (NYSE:LH)
Laboratory Corp. of America Holdings (NYSE:LH) has received a consensus recommendation of “Hold” from the sixteen brokerages that are covering the company, AR Network reports. Nine investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $105.15.
A number of analysts have recently weighed in on LH shares. Analysts at Zacks reiterated a “neutral” rating on shares of Laboratory Corp. of America Holdings in a research note on Thursday, July 24th. They now have a $111.00 price target on the stock. Separately, analysts at William Blair upgraded shares of Laboratory Corp. of America Holdings from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. Finally, analysts at Maxim Group raised their price target on shares of Laboratory Corp. of America Holdings from $110.00 to $120.00 in a research note on Thursday, July 17th. They now have a “buy” rating on the stock.
Laboratory Corp. of America Holdings (NYSE:LH) traded up 0.76% on Wednesday, hitting $107.2389. 122,957 shares of the company’s stock traded hands. Laboratory Corp. of America Holdings has a one year low of $87.01 and a one year high of $108.00. The stock has a 50-day moving average of $104.7 and a 200-day moving average of $100.3. The company has a market cap of $9.105 billion and a price-to-earnings ratio of 17.71.
Laboratory Corp. of America Holdings (NYSE:LH) last posted its quarterly earnings results on Friday, July 18th. The company reported $1.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.77 by $0.07. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $1.80 earnings per share. Laboratory Corp. of America Holdings’s revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that Laboratory Corp. of America Holdings will post $6.73 earnings per share for the current fiscal year.
In other Laboratory Corp. of America Holdings news, CEO David P. King sold 65,233 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $106.10, for a total value of $6,921,221.30. The transaction was disclosed in a legal filing with the SEC, 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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