Laboratory Corp. of America Holdings (NYSE:LH) Given Average Rating of “Buy” by Analysts

Shares of Laboratory Corp. of America Holdings (NYSE:LH) have been given a consensus rating of “Buy” by the sixteen analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $191.69.

A number of brokerages recently issued reports on LH. Morgan Stanley raised their price objective on shares of Laboratory Corp. of America from $199.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. ValuEngine upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Piper Sandler raised their price objective on shares of Laboratory Corp. of America from to in a report on Thursday, February 13th. Wells Fargo & Co dropped their price objective on shares of Laboratory Corp. of America from $215.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, March 30th. Finally, KeyCorp dropped their price objective on shares of Laboratory Corp. of America from $212.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, March 30th.

In other news, EVP Mark S. Schroeder sold 188 shares of Laboratory Corp. of America stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $188.49, for a total value of $35,436.12. Following the completion of the sale, the executive vice president now owns 533 shares in the company, valued at approximately $100,465.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Peter J. Wilkinson sold 297 shares of Laboratory Corp. of America stock in a transaction on Friday, February 21st. The shares were sold at an average price of $189.65, for a total transaction of $56,326.05. Following the completion of the sale, the chief accounting officer now owns 297 shares of the company’s stock, valued at approximately $56,326.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,413 shares of company stock valued at $5,199,483. Company insiders own 0.74% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. River Wealth Advisors LLC grew its position in Laboratory Corp. of America by 3.6% in the 4th quarter. River Wealth Advisors LLC now owns 1,720 shares of the medical research company’s stock valued at $291,000 after purchasing an additional 60 shares during the period. CSat Investment Advisory L.P. grew its position in Laboratory Corp. of America by 23.4% in the 4th quarter. CSat Investment Advisory L.P. now owns 322 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 61 shares during the period. Parallel Advisors LLC grew its position in Laboratory Corp. of America by 7.3% in the 4th quarter. Parallel Advisors LLC now owns 1,162 shares of the medical research company’s stock valued at $197,000 after purchasing an additional 79 shares during the period. Private Trust Co. NA grew its position in Laboratory Corp. of America by 1.7% in the 1st quarter. Private Trust Co. NA now owns 5,279 shares of the medical research company’s stock valued at $667,000 after purchasing an additional 86 shares during the period. Finally, Atlas Capital Advisors LLC grew its position in Laboratory Corp. of America by 2.2% in the 4th quarter. Atlas Capital Advisors LLC now owns 4,382 shares of the medical research company’s stock valued at $741,000 after purchasing an additional 96 shares during the period. Institutional investors own 91.47% of the company’s stock.

Shares of LH traded up $7.04 during mid-day trading on Tuesday, reaching $133.45. The company had a trading volume of 1,705,508 shares, compared to its average volume of 1,016,745. The company’s 50 day simple moving average is $153.26 and its 200 day simple moving average is $166.98. Laboratory Corp. of America has a 1-year low of $98.02 and a 1-year high of $196.36. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.03 and a current ratio of 1.12. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 2.09 and a beta of 1.19.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 13th. The medical research company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.92 billion. Laboratory Corp. of America had a net margin of 7.13% and a return on equity of 15.37%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $2.52 EPS. As a group, equities analysts forecast that Laboratory Corp. of America will post 10.31 earnings per share for the current fiscal year.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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