Laboratory Corp. of America Holdings (NYSE:LH) has been given an average rating of “Buy” by the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $193.27.

LH has been the subject of several analyst reports. Robert W. Baird raised shares of Laboratory Corp. of America from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $183.00 to $203.00 in a report on Tuesday, May 1st. ValuEngine raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Mizuho reissued a “hold” rating on shares of Laboratory Corp. of America in a report on Friday, May 25th. KeyCorp raised shares of Laboratory Corp. of America from a “sector weight” rating to an “overweight” rating and set a $210.00 price target for the company in a report on Thursday, June 7th. Finally, Deutsche Bank cut shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 price target for the company. in a report on Wednesday, June 27th.

Shares of NYSE:LH traded up $0.43 on Friday, reaching $185.28. The company’s stock had a trading volume of 65,645 shares, compared to its average volume of 595,680. Laboratory Corp. of America has a 52-week low of $146.68 and a 52-week high of $190.35. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.27 and a current ratio of 1.38. The stock has a market capitalization of $19.00 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.67 and a beta of 0.94.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Wednesday, April 25th. The medical research company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. Laboratory Corp. of America had a net margin of 11.52% and a return on equity of 16.33%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company earned $2.22 earnings per share. The business’s revenue was up 18.0% compared to the same quarter last year. research analysts forecast that Laboratory Corp. of America will post 11.56 EPS for the current fiscal year.

In other Laboratory Corp. of America news, CEO David P. King sold 49,966 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $175.37, for a total transaction of $8,762,537.42. Following the transaction, the chief executive officer now directly owns 271,635 shares in the company, valued at $47,636,629.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David P. King sold 49,967 shares of the stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $166.12, for a total transaction of $8,300,518.04. Following the completion of the sale, the chief executive officer now owns 271,636 shares in the company, valued at $45,124,172.32. The disclosure for this sale can be found here. Insiders have sold 129,043 shares of company stock worth $22,371,980 over the last 90 days. 0.73% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in LH. The Manufacturers Life Insurance Company lifted its stake in shares of Laboratory Corp. of America by 5.7% during the first quarter. The Manufacturers Life Insurance Company now owns 110,873 shares of the medical research company’s stock valued at $17,933,000 after buying an additional 5,964 shares during the period. Banco de Sabadell S.A purchased a new position in Laboratory Corp. of America during the fourth quarter worth approximately $2,271,000. BRYN MAWR TRUST Co raised its stake in Laboratory Corp. of America by 2.1% during the fourth quarter. BRYN MAWR TRUST Co now owns 31,842 shares of the medical research company’s stock worth $5,079,000 after purchasing an additional 665 shares during the period. BB&T Securities LLC raised its stake in Laboratory Corp. of America by 6.8% during the fourth quarter. BB&T Securities LLC now owns 7,506 shares of the medical research company’s stock worth $1,197,000 after purchasing an additional 476 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Laboratory Corp. of America by 3.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 34,906 shares of the medical research company’s stock worth $5,568,000 after purchasing an additional 1,070 shares during the period. Institutional investors and hedge funds own 92.35% of the company’s stock.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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Analyst Recommendations for Laboratory Corp. of America (NYSE:LH)

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