Laboratory Corporation of America Holdings (NYSE:LH) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities analysts have also issued reports on LH. Robert W. Baird reaffirmed a “hold” rating on shares of Laboratory Corporation of America Holdings in a report on Sunday, September 17th. Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $173.00 price target on the stock in a report on Thursday, September 21st. Barclays PLC lifted their price target on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. BidaskClub lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, Credit Suisse Group lowered shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target on the stock. in a report on Thursday, July 13th. They noted that the move was a valuation call. Five 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 company’s stock. The company has an average rating of “Buy” and a consensus target price of $165.82.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) opened at 150.27 on Tuesday. The firm’s 50-day moving average price is $156.24 and its 200 day moving average price is $147.88. The stock has a market capitalization of $15.30 billion, a P/E ratio of 21.05 and a beta of 0.94. Laboratory Corporation of America Holdings has a 52 week low of $119.51 and a 52 week 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 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the company earned $2.36 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that Laboratory Corporation of America Holdings will post $9.54 earnings per share for the current year.

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In other news, Director R Sanders Williams sold 3,100 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $156.88, for a total transaction of $486,328.00. Following the sale, the director now directly owns 10,073 shares of the company’s stock, valued at $1,580,252.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David P. King sold 132,713 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total transaction of $20,843,903.78. The disclosure for this sale can be found here. Insiders have sold 222,968 shares of company stock worth $34,980,922 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Large investors have recently bought and sold shares of the business. Acrospire Investment Management LLC boosted 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 purchasing an additional 100 shares during the last quarter. Sun Life Financial INC boosted 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 purchasing an additional 736 shares during the last quarter. IFP Advisors Inc boosted 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 purchasing an additional 523 shares during the last quarter. Parallel Advisors LLC boosted 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 purchasing an additional 997 shares during the last quarter. Finally, Hourglass Capital LLC purchased a new stake in Laboratory Corporation of America Holdings in the second quarter valued at $200,000. 93.19% of the stock is currently owned by institutional investors.

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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