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

Laboratory Corp. of America Holdings (NYSE:LH) has received a consensus rating of “Buy” from the eighteen research firms that are covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $180.73.

LH has been the subject of a number of recent analyst reports. 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. ValuEngine upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Deutsche Bank lifted their target price on shares of Laboratory Corp. of America from $170.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Craig Hallum reiterated a “buy” rating and issued a $180.00 target price (up from $175.00) on shares of Laboratory Corp. of America in a research note on Thursday, October 26th. Finally, Goldman Sachs Group initiated coverage on shares of Laboratory Corp. of America in a research note on Monday, January 29th. They issued a “buy” rating and a $205.00 target price for the company.

In other Laboratory Corp. of America news, Director Adam H. Schechter sold 1,263 shares of Laboratory Corp. of America stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $169.29, for a total transaction of $213,813.27. Following the completion of the sale, the director now directly owns 7,297 shares in the company, valued at approximately $1,235,309.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of LH. Macquarie Group Ltd. lifted its stake in shares of Laboratory Corp. of America by 322.1% in the 2nd quarter. Macquarie Group Ltd. now owns 5,504 shares of the medical research company’s stock valued at $848,000 after purchasing an additional 4,200 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Laboratory Corp. of America by 97.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,182 shares of the medical research company’s stock valued at $490,000 after purchasing an additional 1,573 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Laboratory Corp. of America by 33.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,239 shares of the medical research company’s stock valued at $2,041,000 after purchasing an additional 3,339 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Laboratory Corp. of America in the 2nd quarter valued at $700,000. Finally, Toronto Dominion Bank lifted its stake in shares of Laboratory Corp. of America by 25.5% in the 2nd quarter. Toronto Dominion Bank now owns 34,655 shares of the medical research company’s stock valued at $5,342,000 after purchasing an additional 7,042 shares during the period. Hedge funds and other institutional investors own 91.70% of the company’s stock.

Laboratory Corp. of America (NYSE:LH) opened at $171.01 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.31 and a quick ratio of 1.20. Laboratory Corp. of America has a 12-month low of $134.10 and a 12-month high of $181.71. The stock has a market cap of $17,520.00, a P/E ratio of 13.99, a PEG ratio of 1.47 and a beta of 0.92.

Laboratory Corp. of America (NYSE:LH) last released its earnings results on Tuesday, February 6th. The medical research company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.07. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Laboratory Corp. of America had a net margin of 12.15% and a return on equity of 16.30%. Laboratory Corp. of America’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the business earned $2.15 EPS. research analysts forecast that Laboratory Corp. of America will post 11.53 earnings per share for the current year.

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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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