Laboratory Corp. of America (NYSE:LH) received a $178.00 target price from equities research analysts at Mizuho in a research report issued on Wednesday. The brokerage presently has a “hold” rating on the medical research company’s stock. Mizuho’s price target suggests a potential upside of 1.81% from the stock’s current price.
A number of other research firms have also recently weighed in on LH. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine cut Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Evercore ISI assumed coverage on Laboratory Corp. of America in a report on Thursday, January 4th. They issued an “outperform” rating and a $176.00 price target for the company. Barclays reaffirmed a “buy” rating and issued a $195.00 price target on shares of Laboratory Corp. of America in a report on Wednesday, December 13th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $150.00 price target on shares of Laboratory Corp. of America in a report on Friday, October 27th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $172.69.
Shares of Laboratory Corp. of America (LH) traded down $0.94 during mid-day trading on Wednesday, hitting $174.84. The stock had a trading volume of 663,940 shares, compared to its average volume of 522,623. The firm has a market cap of $17,910.00, a PE ratio of 24.38, a PEG ratio of 1.68 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 1.18. Laboratory Corp. of America has a fifty-two week low of $128.00 and a fifty-two week high of $177.80.
In related news, Director Dwight Gary Gilliland sold 971 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $153.52, for a total value of $149,067.92. Following the completion of 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 at this hyperlink. Corporate insiders own 0.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of LH. Janus Henderson Group PLC lifted its stake in Laboratory Corp. of America by 5,992.1% during the second quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock worth $137,128,000 after purchasing an additional 875,028 shares in the last quarter. Empyrean Capital Partners LP acquired a new position in Laboratory Corp. of America during the second quarter worth $92,484,000. JPMorgan Chase & Co. lifted its stake in Laboratory Corp. of America by 57.4% during the third quarter. JPMorgan Chase & Co. now owns 1,350,903 shares of the medical research company’s stock worth $202,298,000 after purchasing an additional 492,866 shares in the last quarter. HealthCor Management L.P. lifted its stake in Laboratory Corp. of America by 34.1% during the second quarter. HealthCor Management L.P. now owns 1,375,000 shares of the medical research company’s stock worth $211,943,000 after purchasing an additional 350,000 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Laboratory Corp. of America by 174.8% during the second quarter. Renaissance Technologies LLC now owns 506,405 shares of the medical research company’s stock worth $78,057,000 after purchasing an additional 322,100 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.
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Laboratory Corp. 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).
