Laboratory Corp. of America Holdings Sets New 1-Year High at $108.26 (LH)
Laboratory Corp. of America Holdings (NYSE:LH) shares hit a new 52-week high during mid-day trading on Wednesday , Analyst Ratings Network.com reports. The company traded as high as $108.26 and last traded at $108.14, with a volume of 231,998 shares changing hands. The stock had previously closed at $106.55.
Several analysts have recently commented on the stock. 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. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Laboratory Corp. of America Holdings currently has a consensus rating of “Hold” and an average target price of $105.15.
The stock has a 50-day moving average of $104. and a 200-day moving average of $100.8. The company has a market cap of $9.184 billion and a P/E ratio of 17.73.
Laboratory Corp. of America Holdings (NYSE:LH) last announced its 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 stock on the open market in a transaction dated Friday, August 22nd. The stock was 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 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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