Laboratory Corporation of America (LH) Upgraded by ValuEngine to Buy

Laboratory Corporation of America (NYSE:LH) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday.

LH has been the subject of several other reports. Zacks Investment Research lowered shares of Laboratory Corporation of America from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. SunTrust Banks restated a “buy” rating and issued a $190.00 price objective on shares of Laboratory Corporation of America in a report on Thursday, October 12th. Robert W. Baird restated a “hold” rating and issued a $150.00 price objective on shares of Laboratory Corporation of America in a report on Friday, October 27th. Jefferies Group set a $167.00 price objective on shares of Laboratory Corporation of America and gave the stock a “hold” rating in a report on Friday, November 24th. Finally, KeyCorp restated a “hold” rating on shares of Laboratory Corporation of America in a report on Tuesday, September 26th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $168.75.

Laboratory Corporation of America (LH) traded up $1.25 during trading on Thursday, hitting $158.27. 1,029,696 shares of the stock were exchanged, compared to its average volume of 723,521. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $15,394.20, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.60 and a beta of 0.87. Laboratory Corporation of America has a one year low of $123.36 and a one year high of $164.22.

Laboratory Corporation of America (NYSE:LH) last posted its earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.08. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. Laboratory Corporation of America had a net margin of 7.40% and a return on equity of 16.75%. Laboratory Corporation of America’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 earnings per share. sell-side analysts anticipate that Laboratory Corporation of America will post 9.52 earnings per share for the current year.

In other Laboratory Corporation of America news, CEO David P. King sold 132,713 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total transaction of $20,843,903.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight Gary Gilliland sold 971 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $153.52, for a total transaction of $149,067.92. Following the transaction, the director now directly owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The disclosure for this sale can be found here. Insiders have sold 178,371 shares of company stock valued at $28,002,575 in the last ninety days. Insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its stake in shares of Laboratory Corporation of America by 1.9% during the second quarter. Swiss National Bank now owns 460,275 shares of the medical research company’s stock valued at $70,947,000 after purchasing an additional 8,500 shares in the last quarter. Sentry Investments Corp. increased its position in shares of Laboratory Corporation of America by 29.6% during the second quarter. Sentry Investments Corp. now owns 924,900 shares of the medical research company’s stock valued at $142,564,000 after acquiring an additional 211,180 shares in the last quarter. Allen Investment Management LLC increased its position in shares of Laboratory Corporation of America by 13.7% during the second quarter. Allen Investment Management LLC now owns 732,798 shares of the medical research company’s stock valued at $112,953,000 after acquiring an additional 88,564 shares in the last quarter. Taylor Asset Management Inc. increased its position in shares of Laboratory Corporation of America by 1.8% during the second quarter. Taylor Asset Management Inc. now owns 51,600 shares of the medical research company’s stock valued at $7,953,000 after acquiring an additional 900 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Laboratory Corporation of America by 2.3% during the second quarter. PNC Financial Services Group Inc. now owns 39,891 shares of the medical research company’s stock valued at $6,150,000 after acquiring an additional 881 shares in the last quarter. 91.49% of the stock is owned by institutional investors and hedge funds.

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About Laboratory Corporation of America

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).

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

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