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.
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.
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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