Laboratory Corp. of America (NYSE:LH) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other research firms also recently commented on LH. Robert W. Baird reaffirmed a “hold” rating and issued a $166.00 price objective on shares of Laboratory Corp. of America in a report on Tuesday, October 17th. Mizuho set a $165.00 price objective on shares of Laboratory Corp. of America and gave the stock a “neutral” rating in a report on Friday, December 1st. Wells Fargo & Co assumed coverage on shares of Laboratory Corp. of America in a research note on Thursday, October 12th. They issued an “outperform” rating and a $175.00 target price on the stock. Zacks Investment Research cut shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, Barclays reiterated a “buy” rating and issued a $195.00 target price on shares of Laboratory Corp. of America in a research note on Wednesday, December 13th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Laboratory Corp. of America has an average rating of “Buy” and a consensus price target of $171.69.

Laboratory Corp. of America (LH) traded down $0.72 on Wednesday, reaching $169.82. 232,368 shares of the company traded hands, compared to its average volume of 625,733. The company has a market cap of $17,170.00, a P/E ratio of 23.68, a PEG ratio of 1.63 and a beta of 0.87. Laboratory Corp. of America has a 52 week low of $128.00 and a 52 week high of $171.38. 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 data on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Laboratory Corp. of America had a net margin of 7.40% and a return on equity of 16.75%. Laboratory Corp. of America’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $2.25 EPS. equities analysts anticipate that Laboratory Corp. of America will post 9.53 earnings per share for the current year.

In other Laboratory Corp. of America news, Director Dwight Gary Gilliland sold 971 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $153.52, for a total value of $149,067.92. Following the sale, the director now directly owns 3,501 shares in the company, valued at approximately $537,473.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. First Allied Advisory Services Inc. raised its position in shares of Laboratory Corp. of America by 2.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 3,033 shares of the medical research company’s stock valued at $462,000 after buying an additional 78 shares in the last quarter. Sentry Investment Management LLC raised its position in shares of Laboratory Corp. of America by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 7,756 shares of the medical research company’s stock valued at $1,196,000 after buying an additional 78 shares in the last quarter. Financial Counselors Inc. raised its position in shares of Laboratory Corp. of America by 5.9% during the 2nd quarter. Financial Counselors Inc. now owns 1,641 shares of the medical research company’s stock valued at $253,000 after buying an additional 92 shares in the last quarter. Acrospire Investment Management LLC raised its position in Laboratory Corp. of America by 16.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock worth $109,000 after purchasing an additional 100 shares during the period. Finally, AXA raised its position in Laboratory Corp. of America by 1.1% in the 2nd quarter. AXA now owns 9,309 shares of the medical research company’s stock worth $1,435,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 91.21% of the company’s stock.

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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).

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

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