Laboratory Corporation of America Holdings (NYSE:LH) was downgraded by stock analysts at Credit Suisse Group to a “hold” rating in a research note issued to investors on Thursday, July 13th. They currently have a $146.00 price objective on the medical research company’s stock. Credit Suisse Group’s target price indicates a potential downside of 7.72% from the company’s previous close. The analysts noted that the move was a valuation call.

LH has been the topic of several other research reports. ValuEngine lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Jefferies Group LLC dropped their price target on shares of Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Zacks Investment Research lowered shares of Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. Finally, BidaskClub upgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $158.42.

Shares of Laboratory Corporation of America Holdings (LH) traded down 0.28% during trading on Thursday, hitting $158.21. The stock had a trading volume of 509,403 shares. The firm’s 50-day moving average is $151.97 and its 200 day moving average is $143.06. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 22.16 and a beta of 0.94. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the company posted $2.36 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Laboratory Corporation of America Holdings will post $9.51 EPS for the current year.

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In other Laboratory Corporation of America Holdings news, CFO Glenn A. Eisenberg sold 5,968 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total value of $951,657.28. Following the sale, the chief financial officer now directly owns 18,122 shares in the company, valued at approximately $2,889,734.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,573 shares of company stock worth $2,397,952 in the last 90 days. 0.90% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in LH. Vanguard Group Inc. raised its position in Laboratory Corporation of America Holdings by 2.6% in the first quarter. Vanguard Group Inc. now owns 10,130,291 shares of the medical research company’s stock worth $1,453,393,000 after buying an additional 259,182 shares during the period. BlackRock Inc. raised its position in Laboratory Corporation of America Holdings by 3,602.5% in the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after buying an additional 7,856,297 shares during the period. State Street Corp raised its position in Laboratory Corporation of America Holdings by 2.4% in the first quarter. State Street Corp now owns 4,639,813 shares of the medical research company’s stock worth $665,669,000 after buying an additional 109,170 shares during the period. Boston Partners raised its position in Laboratory Corporation of America Holdings by 4.8% in the second quarter. Boston Partners now owns 4,590,372 shares of the medical research company’s stock worth $707,560,000 after buying an additional 210,138 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Laboratory Corporation of America Holdings by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 1,347,599 shares of the medical research company’s stock worth $193,340,000 after buying an additional 5,743 shares during the period. Hedge funds and other institutional investors own 91.89% of the company’s stock.

About Laboratory Corporation of America Holdings

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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