Analysts at Wells Fargo & Company began coverage on shares of Laboratory Corporation of America Holdings (NYSE:LH) in a research report issued on Thursday. The firm set an “outperform” rating and a $175.00 price target on the medical research company’s stock. Wells Fargo & Company’s price target would indicate a potential upside of 16.98% from the stock’s previous close.

Several other research firms have also commented on LH. Craig Hallum reaffirmed a “buy” rating and set a $179.00 price target (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Barclays PLC upped their price target on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $170.00 price target (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Wednesday, September 13th. Finally, ValuEngine upgraded Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $168.15.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded down 0.44% during trading on Thursday, reaching $149.60. 235,835 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $153.37 and a 200 day moving average price of $148.86. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 20.95 and a beta of 0.92. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last released its quarterly 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. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the firm earned $2.36 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts forecast that Laboratory Corporation of America Holdings will post $9.53 EPS for the current year.

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In other news, CEO David P. King sold 44,687 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the completion of the transaction, the chief executive officer now directly owns 258,753 shares in the company, valued at approximately $40,587,995.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total value of $800,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 222,968 shares of company stock valued at $34,980,922 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Swiss National Bank raised its holdings in Laboratory Corporation of America Holdings by 1.9% during the 2nd quarter. Swiss National Bank now owns 460,275 shares of the medical research company’s stock valued at $70,947,000 after buying an additional 8,500 shares during the period. Sentry Investments Corp. raised its holdings in Laboratory Corporation of America Holdings by 29.6% during the 2nd quarter. Sentry Investments Corp. now owns 924,900 shares of the medical research company’s stock valued at $142,564,000 after buying an additional 211,180 shares during the period. Allen Investment Management LLC raised its holdings in Laboratory Corporation of America Holdings by 13.7% during the 2nd quarter. Allen Investment Management LLC now owns 732,798 shares of the medical research company’s stock valued at $112,953,000 after buying an additional 88,564 shares during the period. Taylor Asset Management Inc. raised its holdings in Laboratory Corporation of America Holdings by 1.8% during the 2nd quarter. Taylor Asset Management Inc. now owns 51,600 shares of the medical research company’s stock valued at $7,953,000 after buying an additional 900 shares during the period. Finally, Epoch Investment Partners Inc. purchased a new stake in Laboratory Corporation of America Holdings during the 1st quarter valued at $1,976,000. Institutional investors own 93.19% 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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