Laboratory Corporation of America Holdings (NYSE:LH)‘s stock had its “hold” rating reiterated by Jefferies Group LLC in a report issued on Wednesday. They currently have a $170.00 target price on the medical research company’s stock, up from their previous target price of $157.00. Jefferies Group LLC’s price target suggests a potential upside of 7.14% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Barclays PLC boosted their target price on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note 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 note on Thursday, July 27th. BidaskClub cut shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday. Finally, ValuEngine raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Laboratory Corporation of America Holdings currently has an average rating of “Buy” and an average target price of $164.00.

Laboratory Corporation of America Holdings (NYSE LH) opened at 158.49 on Wednesday. The stock has a 50 day moving average price of $157.01 and a 200 day moving average price of $147.35. The firm has a market capitalization of $16.13 billion, a P/E ratio of 22.20 and a beta of 0.94. 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 announced its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $2.36 earnings per share. On average, equities analysts predict that Laboratory Corporation of America Holdings will post $9.53 EPS for the current fiscal year.

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In related news, insider Lisa J. Uthgenannt sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total value of $800,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David P. King sold 44,687 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were 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 owns 258,753 shares in the company, valued at approximately $40,587,995.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,968 shares of company stock worth $34,980,922. 0.90% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC lifted its holdings in Laboratory Corporation of America Holdings by 16.5% in the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after buying an additional 100 shares during the period. Sun Life Financial INC lifted its holdings in Laboratory Corporation of America Holdings by 9,200.0% in the second quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after buying an additional 736 shares during the period. IFP Advisors Inc lifted its holdings in Laboratory Corporation of America Holdings by 83.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after buying an additional 523 shares during the period. Parallel Advisors LLC lifted its holdings in Laboratory Corporation of America Holdings by 377.7% in the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after buying an additional 997 shares during the period. Finally, Hourglass Capital LLC acquired a new position in Laboratory Corporation of America Holdings in the second quarter valued at $200,000. Institutional investors and hedge funds 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).

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

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