Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings (NYSE:LH) from a hold rating to a buy rating in a research note released on Tuesday morning. The firm currently has $170.00 price objective on the medical research company’s stock.

According to Zacks, “Over the last three months LabCorp has been trading above the broader industry. Over the past few quarters, the company delivered promising top-line growth on strong Diagnostics business. However, unimpressive performance within Covance Drug Development is quite disappointing. As per LabCorp, the impact of the cancellation by sponsors of two large clinical studies in late 2016 affected the results in this phase. This apart, an unfavorable foreign exchange continues to hamper overall result. Yet, an increased 2017 guidance boosted investors’ confidence indicating chances of respite anytime soon. We believe that with the integration of newer acquisitions, LabCorp is perfectly positioned to drive long-term profitable growth. We are also upbeat about the company's recent acqusition of Chiltern, a specialty CRO for an all-cash transaction valued at roughly $1.2 billion.”

Several other research firms have also commented on LH. Craig Hallum reiterated a buy rating and issued a $179.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. Barclays PLC upped their target price on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an overweight rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a hold rating and issued a $170.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Wednesday, September 13th. ValuEngine upgraded Laboratory Corporation of America Holdings from a hold rating to a buy rating in a research note on Wednesday, September 6th. Finally, Canaccord Genuity reiterated a buy rating and issued a $180.00 target price (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, September 11th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $165.55.

Laboratory Corporation of America Holdings (NYSE:LH) traded down 0.23% during trading on Tuesday, hitting $149.14. The stock had a trading volume of 60,363 shares. The firm has a market cap of $15.18 billion, a price-to-earnings ratio of 20.89 and a beta of 0.92. The stock’s 50-day moving average is $153.77 and its 200 day moving average is $148.80. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last released its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.07. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.47 billion. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.36 earnings per share. Equities analysts anticipate that Laboratory Corporation of America Holdings will post $9.53 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Laboratory Corporation of America Holdings (LH) Upgraded by Zacks Investment Research to Buy” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/10/11/laboratory-corporation-of-america-holdings-lh-upgraded-by-zacks-investment-research-to-buy.html.

In other news, Director R Sanders Williams sold 3,100 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $156.88, for a total value of $486,328.00. Following the completion of the sale, the director now owns 10,073 shares of the company’s stock, valued at $1,580,252.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn A. Eisenberg sold 5,968 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $159.46, for a total value of $951,657.28. Following the completion of the sale, 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 ninety days. Company insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank boosted its position in shares of Laboratory Corporation of America Holdings by 1.9% in the second quarter. Swiss National Bank now owns 460,275 shares of the medical research company’s stock worth $70,947,000 after buying an additional 8,500 shares during the period. Allen Investment Management LLC boosted its position in shares of Laboratory Corporation of America Holdings by 13.7% in the second quarter. Allen Investment Management LLC now owns 732,798 shares of the medical research company’s stock worth $112,953,000 after buying an additional 88,564 shares during the period. Sentry Investments Corp. boosted its position in shares of Laboratory Corporation of America Holdings by 29.6% in the second quarter. Sentry Investments Corp. now owns 924,900 shares of the medical research company’s stock worth $142,564,000 after buying an additional 211,180 shares during the period. Taylor Asset Management Inc. boosted its position in shares of Laboratory Corporation of America Holdings by 1.8% in the second quarter. Taylor Asset Management Inc. now owns 51,600 shares of the medical research company’s stock worth $7,953,000 after buying an additional 900 shares during the period. Finally, Epoch Investment Partners Inc. purchased a new stake in shares of Laboratory Corporation of America Holdings in the first quarter worth about $1,976,000. 93.19% of the stock is owned by 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)

Receive News & Stock Ratings for Laboratory Corporation of America Holdings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corporation of America Holdings and related stocks with our FREE daily email newsletter.