ValuEngine upgraded shares of Laboratory Corporation of America Holdings (NYSE:LH) from a hold rating to a buy rating in a research note released on Wednesday.

Several other equities research analysts also recently weighed in on LH. Barclays PLC upped their target price on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an overweight rating in a research report on Thursday, July 27th. BidaskClub downgraded Laboratory Corporation of America Holdings from a buy rating to a hold rating in a research report on Friday, June 9th. Zacks Investment Research raised Laboratory Corporation of America Holdings from a sell rating to a hold rating in a research report on Thursday, July 27th. Credit Suisse Group downgraded Laboratory Corporation of America Holdings to a hold rating and set a $146.00 target price for the company. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, Craig Hallum reaffirmed a buy rating and issued a $179.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $159.75.

Laboratory Corporation of America Holdings (NYSE LH) traded down 0.31% during midday trading on Wednesday, reaching $157.55. The company’s stock had a trading volume of 398,630 shares. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $164.22. The company has a market capitalization of $16.04 billion, a P/E ratio of 22.07 and a beta of 0.94. The company has a 50 day moving average of $156.94 and a 200-day moving average of $147.10.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the business earned $2.36 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Laboratory Corporation of America Holdings will post $9.52 earnings per share for the current fiscal year.

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In related news, insider Lisa J. Uthgenannt sold 5,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total value of $800,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Glenn A. Eisenberg sold 5,968 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total value of $951,657.28. Following the completion of the transaction, the chief financial officer now directly owns 18,122 shares of the company’s stock, valued at approximately $2,889,734.12. The disclosure for this sale can be found here. Insiders sold 222,968 shares of company stock valued at $34,980,922 in the last three months. 0.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in LH. BlackRock Inc. raised its stake in Laboratory Corporation of America Holdings by 3,602.5% during the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock valued at $1,158,430,000 after buying an additional 7,856,297 shares in the last quarter. Janus Henderson Group PLC raised its stake in Laboratory Corporation of America Holdings by 5,992.1% during the second quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock valued at $137,128,000 after buying an additional 875,028 shares in the last quarter. Schroder Investment Management Group raised its stake in Laboratory Corporation of America Holdings by 1,337.1% during the second quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock valued at $130,885,000 after buying an additional 800,902 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Laboratory Corporation of America Holdings by 70.5% during the second quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock valued at $237,857,000 after buying an additional 637,848 shares in the last quarter. Finally, Empyrean Capital Partners LP acquired a new stake in Laboratory Corporation of America Holdings during the second quarter valued at approximately $92,484,000. Hedge funds and other institutional investors own 93.21% 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).

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

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