Laboratory Corp. of America Holdings (LH) Receives Average Rating of “Buy” from Brokerages

Laboratory Corp. of America Holdings (NYSE:LH) has been assigned an average recommendation of “Buy” from the sixteen ratings firms that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $171.83.

Several equities analysts have issued reports on LH shares. SunTrust Banks reaffirmed a “buy” rating and issued a $190.00 price target on shares of Laboratory Corp. of America in a report on Thursday, October 12th. Zacks Investment Research raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, October 10th. Deutsche Bank lifted their price target on shares of Laboratory Corp. of America from $170.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Craig Hallum reaffirmed a “buy” rating and issued a $180.00 price target (up from $175.00) on shares of Laboratory Corp. of America in a report on Thursday, October 26th. Finally, ValuEngine raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating in a report on Thursday, November 30th.

Laboratory Corp. of America (NYSE LH) opened at $174.39 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 1.18. Laboratory Corp. of America has a 1-year low of $128.00 and a 1-year high of $174.79. The stock has a market cap of $17,860.00, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.65 and a beta of 0.87.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.08. Laboratory Corp. 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 for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the company earned $2.25 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. sell-side analysts anticipate that Laboratory Corp. of America will post 9.53 EPS for the current fiscal year.

In other news, Director Dwight Gary Gilliland sold 971 shares of Laboratory Corp. of America 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.90% of the company’s stock.

Several large investors have recently bought and sold shares of LH. Zions Bancorporation lifted its position in Laboratory Corp. of America by 7,444.4% during the third quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after purchasing an additional 670 shares during the period. Sun Life Financial INC lifted its position in Laboratory Corp. of America by 9,200.0% during the second quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 736 shares during the period. Teacher Retirement System of Texas acquired a new position in Laboratory Corp. of America during the third quarter valued at $210,000. Institute for Wealth Management LLC. acquired a new position in Laboratory Corp. of America during the second quarter valued at $220,000. Finally, P.R. Herzig & Co. Inc. acquired a new position in Laboratory Corp. of America during the third quarter valued at $226,000. Institutional investors and hedge funds own 91.35% 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).

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

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