Laboratory Corp. of America (LH) Price Target Cut to $160.00

Laboratory Corp. of America (NYSE:LH) had its price objective decreased by Citigroup from $171.00 to $160.00 in a research report report published on Monday. Citigroup currently has a neutral rating on the medical research company’s stock.

Several other brokerages have also issued reports on LH. Deutsche Bank lowered their target price on Laboratory Corp. of America from $195.00 to $190.00 and set a hold rating for the company in a research report on Monday, August 20th. Robert W. Baird lowered their target price on Laboratory Corp. of America from $205.00 to $190.00 and set an outperform rating for the company in a research report on Thursday, October 25th. Mizuho reaffirmed a neutral rating on shares of Laboratory Corp. of America in a research report on Wednesday, September 19th. Morgan Stanley lowered their target price on Laboratory Corp. of America from $202.00 to $180.00 and set an overweight rating for the company in a research report on Monday. Finally, Canaccord Genuity lowered Laboratory Corp. of America from a buy rating to a hold rating and lowered their target price for the stock from $190.00 to $162.00 in a research report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $179.69.

Shares of NYSE:LH opened at $143.59 on Monday. The firm has a market cap of $14.46 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.47 and a beta of 0.99. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44. Laboratory Corp. of America has a 12-month low of $139.18 and a 12-month high of $190.35.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 earnings per share. Analysts expect that Laboratory Corp. of America will post 10.99 earnings per share for the current fiscal year.

In other news, Director Kerrii B. Anderson sold 3,700 shares of Laboratory Corp. of America stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the completion of the transaction, the director now directly owns 21,795 shares of the company’s stock, valued at approximately $3,558,905.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 350 shares of Laboratory Corp. of America stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total value of $56,749.00. Following the completion of the transaction, the director now directly owns 7,886 shares of the company’s stock, valued at $1,278,636.04. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Legacy Financial Advisors Inc. raised its position in shares of Laboratory Corp. of America by 763.9% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock worth $108,000 after acquiring an additional 550 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Laboratory Corp. of America by 7,033.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock valued at $115,000 after buying an additional 633 shares during the period. Fort L.P. acquired a new stake in shares of Laboratory Corp. of America in the 2nd quarter valued at about $118,000. Rational Advisors LLC grew its stake in shares of Laboratory Corp. of America by 4,966.7% in the 3rd quarter. Rational Advisors LLC now owns 760 shares of the medical research company’s stock valued at $132,000 after buying an additional 745 shares during the period. Finally, NuWave Investment Management LLC grew its stake in shares of Laboratory Corp. of America by 5,786.7% in the 3rd quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock valued at $154,000 after buying an additional 868 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

Featured Article: How is an ETF different from a mutual fund?

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

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply