Laboratory Corp. of America Holdings (NYSE:LH) has been given an average recommendation of “Buy” by the nineteen brokerages that are covering the stock. Seven analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $141.25.

Several equities research analysts have recently issued reports on LH shares. Evercore ISI lifted their price target on Laboratory Corp. of America Holdings from $147.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Citigroup Inc. started coverage on Laboratory Corp. of America Holdings in a report on Friday, September 9th. They set a “neutral” rating and a $156.00 price target for the company. They noted that the move was a valuation call. Zacks Investment Research lowered Laboratory Corp. of America Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 19th. KeyCorp lifted their price target on Laboratory Corp. of America Holdings from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, August 16th. Finally, Barclays PLC set a $155.00 price target on Laboratory Corp. of America Holdings and gave the company a “buy” rating in a report on Monday, August 29th.

Shares of Laboratory Corp. of America Holdings (NYSE:LH) opened at 136.37 on Tuesday. Laboratory Corp. of America Holdings has a 52-week low of $97.79 and a 52-week high of $141.32. The firm has a market cap of $13.95 billion, a P/E ratio of 22.64 and a beta of 0.86. The stock’s 50 day moving average is $136.68 and its 200-day moving average is $131.16.

Laboratory Corp. of America Holdings (NYSE:LH) last released its earnings results on Wednesday, July 27th. The company reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.01. Laboratory Corp. of America Holdings had a return on equity of 17.01% and a net margin of 6.64%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the business posted $2.09 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts anticipate that Laboratory Corp. of America Holdings will post $8.81 earnings per share for the current fiscal year.

In other Laboratory Corp. of America Holdings news, Director Robert E. Mittelstaedt, Jr. sold 992 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $140.15, for a total value of $139,028.80. Following the sale, the director now directly owns 12,340 shares in the company, valued at $1,729,451. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn A. Eisenberg sold 8,000 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $140.10, for a total value of $1,120,800.00. Following the completion of the sale, the chief financial officer now owns 8,668 shares in the company, valued at $1,214,386.80. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. MSI Financial Services Inc boosted its stake in shares of Laboratory Corp. of America Holdings by 2.3% in the third quarter. MSI Financial Services Inc now owns 1,117 shares of the company’s stock worth $154,000 after buying an additional 25 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Laboratory Corp. of America Holdings by 0.3% in the third quarter. Gulf International Bank UK Ltd now owns 29,681 shares of the company’s stock valued at $4,080,000 after buying an additional 100 shares during the last quarter. AT Bancorp acquired a new stake in shares of Laboratory Corp. of America Holdings during the third quarter valued at approximately $1,302,000. Prospera Financial Services Inc acquired a new stake in shares of Laboratory Corp. of America Holdings during the third quarter valued at approximately $206,000. Finally, Capstone Asset Management Co. boosted its stake in shares of Laboratory Corp. of America Holdings by 1.6% in the third quarter. Capstone Asset Management Co. now owns 16,539 shares of the company’s stock valued at $2,274,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Laboratory Corp. of America Holdings Company Profile

Laboratory Corporation of America Holdings is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

5 Day Chart for NYSE:LH

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