Shares of Laboratory Corporation of America Holdings (NYSE:LH) have been assigned an average recommendation of “Buy” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $168.60.

A number of equities research analysts recently commented on LH shares. ValuEngine lowered Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. 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 report on Thursday, July 27th. BidaskClub upgraded Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $170.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Wednesday, September 13th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $146.00 target price on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th.

In other news, CEO David P. King sold 44,687 shares of the company’s 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 of the company’s stock, valued at approximately $40,587,995.58. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was 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 sold 222,968 shares of company stock valued at $34,980,922 over the last three months. 0.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in LH. BlackRock Inc. raised its stake in shares of Laboratory Corporation of America Holdings by 3,602.5% during the 1st 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. Janus Henderson Group PLC raised its stake in shares of Laboratory Corporation of America Holdings by 5,992.1% during the 2nd quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock worth $137,128,000 after buying an additional 875,028 shares during the period. Schroder Investment Management Group raised its stake in shares of Laboratory Corporation of America Holdings by 1,337.1% during the 2nd quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock worth $130,885,000 after buying an additional 800,902 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Laboratory Corporation of America Holdings by 70.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock worth $237,857,000 after buying an additional 637,848 shares during the period. Finally, Empyrean Capital Partners LP acquired a new position in shares of Laboratory Corporation of America Holdings during the 2nd quarter worth approximately $92,484,000. 93.19% of the stock is owned by institutional investors and hedge funds.

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Shares of Laboratory Corporation of America Holdings (NYSE LH) traded up 0.77% during trading on Friday, hitting $155.07. 510,718 shares of the stock traded hands. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $164.22. The stock has a 50 day moving average of $156.24 and a 200 day moving average of $147.88. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 21.72 and a beta of 0.94.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.07. The firm had revenue of $2.50 billion for 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%. Laboratory Corporation of America Holdings’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 earnings per share. Analysts expect that Laboratory Corporation of America Holdings will post $9.54 EPS for the current year.

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)

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