Laboratory Corp. of America (LH) Given a $165.00 Price Target at Mizuho

Laboratory Corp. of America (NYSE:LH) has been assigned a $165.00 price objective by investment analysts at Mizuho in a research report issued on Friday, December 1st, Marketbeat Ratings reports. The firm presently has a “neutral” rating on the medical research company’s stock. Mizuho’s target price suggests a potential upside of 3.44% from the stock’s current price.

A number of other research firms have also commented on LH. Robert W. Baird restated a “hold” rating and issued a $166.00 price target on shares of Laboratory Corp. of America in a research report on Tuesday, October 17th. ValuEngine upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. Wells Fargo & Co started coverage on shares of Laboratory Corp. of America in a research report on Thursday, October 12th. They issued an “outperform” rating and a $175.00 price target on the stock. Morgan Stanley boosted their price target on shares of Laboratory Corp. of America from $154.00 to $166.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $171.33.

Laboratory Corp. of America (LH) traded down $1.34 during trading hours on Friday, reaching $159.51. 345,573 shares of the company’s stock were exchanged, compared to its average volume of 517,514. The firm has a market capitalization of $16,374.53, a price-to-earnings ratio of 22.31, a PEG ratio of 1.71 and a beta of 0.87. Laboratory Corp. of America has a 52-week low of $127.33 and a 52-week high of $165.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.75 and a current ratio of 1.89.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.08. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Laboratory Corp. of America had a net margin of 7.40% and a return on equity of 16.75%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 earnings per share. analysts expect that Laboratory Corp. of America will post 9.53 earnings per share for the current fiscal year.

In other news, Director Dwight Gary Gilliland sold 971 shares of the company’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 in the company, valued at $537,473.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. New Amsterdam Partners LLC NY raised its stake in shares of Laboratory Corp. 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 buying an additional 27 shares during the last quarter. Fiduciary Financial Services of The Southwest Inc. TX raised its stake in shares of Laboratory Corp. of America by 2.3% during the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,200 shares of the medical research company’s stock worth $339,000 after buying an additional 50 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in shares of Laboratory Corp. of America by 2.6% during the second quarter. First Allied Advisory Services Inc. now owns 3,033 shares of the medical research company’s stock worth $462,000 after buying an additional 78 shares during the last quarter. Sentry Investment Management LLC raised its stake in shares of Laboratory Corp. of America by 1.0% during the second quarter. Sentry Investment Management LLC now owns 7,756 shares of the medical research company’s stock worth $1,196,000 after buying an additional 78 shares during the last quarter. Finally, Financial Counselors Inc. raised its stake in shares of Laboratory Corp. of America by 5.9% during the second quarter. Financial Counselors Inc. now owns 1,641 shares of the medical research company’s stock worth $253,000 after buying an additional 92 shares during the last quarter. 91.21% of the stock is owned by institutional investors and hedge funds.

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About Laboratory Corp. 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).

Analyst Recommendations for Laboratory Corp. of America (NYSE:LH)