Laboratory Corp. of America (NYSE:LH) had its target price reduced by research analysts at Goldman Sachs Group from $190.00 to $180.00 in a research note issued to investors on Sunday. Goldman Sachs Group’s target price would indicate a potential upside of 26.80% from the company’s previous close.

A number of other brokerages have also weighed in on LH. Zacks Investment Research lowered shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Credit Suisse Group reduced their target price on shares of Laboratory Corp. of America from $197.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday, September 4th. Morgan Stanley upped their target price on shares of Laboratory Corp. of America from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Citigroup reduced their target price on shares of Laboratory Corp. of America from $184.00 to $171.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Laboratory Corp. of America in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $179.06.

Shares of LH stock traded down $1.63 on Friday, hitting $141.96. The stock had a trading volume of 1,326,406 shares, compared to its average volume of 935,053. Laboratory Corp. of America has a twelve month low of $139.18 and a twelve month high of $190.35. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 0.83.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the firm earned $2.46 EPS. Laboratory Corp. of America’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts expect that Laboratory Corp. of America will post 10.99 earnings per share for the current year.

In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 3,700 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $163.29, for a total transaction of $604,173.00. Following the sale, the director now directly owns 21,795 shares of the company’s stock, valued at approximately $3,558,905.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Sanders Williams sold 350 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total transaction of $56,749.00. Following the sale, the director now directly owns 7,886 shares in the company, valued at $1,278,636.04. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

A number of large investors have recently modified their holdings of LH. Legacy Financial Advisors Inc. lifted its position in Laboratory Corp. of America by 763.9% during the 3rd quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock worth $108,000 after buying an additional 550 shares in the last quarter. Fort L.P. bought a new stake in Laboratory Corp. of America during the 2nd quarter worth about $118,000. Rational Advisors LLC lifted its position in Laboratory Corp. of America by 4,966.7% during the 3rd quarter. Rational Advisors LLC now owns 760 shares of the medical research company’s stock worth $132,000 after buying an additional 745 shares in the last quarter. NuWave Investment Management LLC lifted its position in Laboratory Corp. of America by 5,786.7% during the 3rd quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock worth $154,000 after buying an additional 868 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Laboratory Corp. of America by 663.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,000 shares of the medical research company’s stock worth $174,000 after buying an additional 869 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

About Laboratory Corp. of America

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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