Shares of Laboratory Corporation of America Holdings (NYSE:LH) have received a consensus rating of “Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $165.10.

A number of brokerages recently issued reports on LH. Jefferies Group LLC reaffirmed a “hold” rating and issued a $170.00 price target (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Wednesday. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price target (up from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Monday, September 11th. ValuEngine raised Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Morgan Stanley upped their price target on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Finally, Barclays PLC upped their price target on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Thursday, July 27th.

Laboratory Corporation of America Holdings (NYSE:LH) opened at 153.60 on Friday. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22. The stock has a market capitalization of $15.64 billion, a price-to-earnings ratio of 21.51 and a beta of 0.94. The company has a 50 day moving average of $156.60 and a 200 day moving average of $147.65.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.07. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.47 billion. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.36 earnings per share. On average, equities analysts predict that Laboratory Corporation of America Holdings will post $9.54 EPS for the current year.

In other news, Director R Sanders Williams sold 3,100 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $156.88, for a total transaction of $486,328.00. Following the completion of the sale, the director now owns 10,073 shares in the company, valued at $1,580,252.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David P. King sold 132,713 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $157.06, for a total value of $20,843,903.78. The disclosure for this sale can be found here. Insiders sold 222,968 shares of company stock valued at $34,980,922 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in LH. BlackRock Inc. raised its stake in shares of Laboratory Corporation of America Holdings by 3,602.5% during the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after purchasing an additional 7,856,297 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Laboratory Corporation of America Holdings by 5,992.1% during the second quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock worth $137,128,000 after purchasing an additional 875,028 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Laboratory Corporation of America Holdings by 1,337.1% during the second quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock worth $130,885,000 after purchasing an additional 800,902 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Laboratory Corporation of America Holdings by 70.5% during the second quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock worth $237,857,000 after purchasing an additional 637,848 shares during the last quarter. Finally, Empyrean Capital Partners LP purchased a new stake in shares of Laboratory Corporation of America Holdings during the second quarter worth approximately $92,484,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

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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).

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

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