Shares of Laboratory Corporation of America Holdings (NYSE:LH) have earned an average recommendation of “Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $168.64.

A number of research firms recently issued reports on LH. Jefferies Group reissued a “hold” rating and issued a $170.00 price target (up from $157.00) on shares of Laboratory Corporation of America in a research note on Wednesday, September 13th. ValuEngine raised shares of Laboratory Corporation of America from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price target (up from $175.00) on shares of Laboratory Corporation of America in a research note on Monday, September 11th. Morgan Stanley upped their price objective on shares of Laboratory Corporation of America from $154.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Laboratory Corporation of America from a “hold” rating to a “buy” rating and set a $173.00 price objective on the stock in a report on Thursday, September 21st.

Laboratory Corporation of America (LH) opened at $158.27 on Friday. Laboratory Corporation of America has a 1 year low of $123.36 and a 1 year high of $164.22. The stock has a market cap 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. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75.

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

In other news, CEO David P. King sold 132,713 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total value of $20,843,903.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dwight Gary Gilliland sold 971 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 3,501 shares in the company, valued at $537,473.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,371 shares of company stock valued at $28,002,575. Company insiders own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in LH. New Amsterdam Partners LLC NY raised its position in Laboratory Corporation of America by 0.7% during the second quarter. New Amsterdam Partners LLC NY now owns 3,847 shares of the medical research company’s stock worth $593,000 after acquiring an additional 27 shares during the period. Fiduciary Financial Services of The Southwest Inc. TX grew its holdings in shares of Laboratory Corporation of America by 2.3% in the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,200 shares of the medical research company’s stock valued at $339,000 after purchasing an additional 50 shares during the period. First Allied Advisory Services Inc. grew its holdings in shares of Laboratory Corporation of America by 2.6% in the second quarter. First Allied Advisory Services Inc. now owns 3,033 shares of the medical research company’s stock valued at $462,000 after purchasing an additional 78 shares during the period. Sentry Investment Management LLC grew its holdings in shares of Laboratory Corporation of America by 1.0% in the second quarter. Sentry Investment Management LLC now owns 7,756 shares of the medical research company’s stock valued at $1,196,000 after purchasing an additional 78 shares during the period. Finally, Financial Counselors Inc. grew its holdings in shares of Laboratory Corporation of America by 5.9% in the second quarter. Financial Counselors Inc. now owns 1,641 shares of the medical research company’s stock valued at $253,000 after purchasing an additional 92 shares during the period. 91.49% of the stock is currently owned by hedge funds and other institutional investors.

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Laboratory Corporation of America 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 (NYSE:LH)

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