Laboratory Corporation of America Holdings (LH) Stock Rating Reaffirmed by Robert W. Baird

Robert W. Baird reissued their hold rating on shares of Laboratory Corporation of America Holdings (NYSE:LH) in a report published on Tuesday, October 17th. The brokerage currently has a $166.00 price target on the medical research company’s stock.

A number of other brokerages have also recently issued reports on LH. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a sell rating to a hold rating in a research note on Thursday, July 27th. Craig Hallum reiterated a buy rating and set a $179.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. Barclays PLC upped their price objective on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an overweight rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a hold rating and set a $170.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Wednesday, September 13th. Finally, ValuEngine upgraded Laboratory Corporation of America Holdings from a hold rating to a buy rating in a research note on Wednesday, September 6th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $169.00.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) opened at 155.40 on Tuesday. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 21.76 and a beta of 0.92. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $164.22. The firm’s 50-day moving average is $152.43 and its 200-day moving average is $149.31.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.08. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the business posted $2.25 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that Laboratory Corporation of America Holdings will post $9.52 earnings per share for the current fiscal year.

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In other Laboratory Corporation of America Holdings news, CEO David P. King sold 132,713 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $157.06, for a total value of $20,843,903.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total value of $800,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 222,968 shares of company stock worth $34,980,922 over the last three months. 0.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of LH. Acrospire Investment Management LLC grew its holdings in Laboratory Corporation of America Holdings by 16.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after buying an additional 100 shares in the last quarter. Sun Life Financial INC grew its holdings in Laboratory Corporation of America Holdings by 9,200.0% in the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after buying an additional 736 shares in the last quarter. Parallel Advisors LLC grew its holdings in Laboratory Corporation of America Holdings by 377.7% in the 1st quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after buying an additional 997 shares in the last quarter. IFP Advisors Inc grew its holdings in Laboratory Corporation of America Holdings by 83.9% in the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after buying an additional 523 shares in the last quarter. Finally, Hourglass Capital LLC acquired a new position in Laboratory Corporation of America Holdings in the 2nd quarter valued at $200,000. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Corporation of America Holdings 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).

Analyst Recommendations for Laboratory Corporation of America Holdings (NYSE:LH)

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