Laboratory Corporation of America Holdings (NYSE:LH) was downgraded by research analysts at Credit Suisse Group to a “hold” rating in a research report issued on Thursday. They presently have a $146.00 price target on the medical research company’s stock. Credit Suisse Group’s price target indicates a potential downside of 4.76% from the company’s current price. The analysts noted that the move was a valuation call.

Other equities analysts have also recently issued reports about the stock. BidaskClub raised shares of Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research lowered shares of Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Jefferies Group LLC cut their target price on shares of Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Finally, ValuEngine lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $154.35.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) opened at 153.30 on Thursday. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $154.82. The firm has a market capitalization of $15.68 billion, a P/E ratio of 21.06 and a beta of 0.93. The firm has a 50-day moving average price of $142.43 and a 200-day moving average price of $138.87.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings data on Tuesday, April 25th. The medical research company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.03. Laboratory Corporation of America Holdings had a net margin of 7.76% and a return on equity of 16.99%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the firm earned $2.02 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Laboratory Corporation of America Holdings will post $9.43 EPS for the current year.

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In other Laboratory Corporation of America Holdings news, Director Jean-Luc Belingard sold 992 shares of Laboratory Corporation of America Holdings stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $142.19, for a total value of $141,052.48. Following the sale, the director now directly owns 32,935 shares in the company, valued at approximately $4,683,027.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lance Berberian sold 3,613 shares of Laboratory Corporation of America Holdings stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $139.84, for a total transaction of $505,241.92. Following the completion of the sale, the senior vice president now owns 5,789 shares in the company, valued at $809,533.76. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

A number of large investors have recently modified their holdings of LH. Vanguard Group Inc. raised its stake in shares of Laboratory Corporation of America Holdings by 2.6% in the first quarter. Vanguard Group Inc. now owns 10,130,291 shares of the medical research company’s stock valued at $1,453,393,000 after buying an additional 259,182 shares during the last quarter. BlackRock Inc. raised its stake in shares of Laboratory Corporation of America Holdings by 3,602.5% in the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock valued at $1,158,430,000 after buying an additional 7,856,297 shares during the last quarter. State Street Corp raised its stake in shares of Laboratory Corporation of America Holdings by 2.4% in the first quarter. State Street Corp now owns 4,639,813 shares of the medical research company’s stock valued at $665,669,000 after buying an additional 109,170 shares during the last quarter. Boston Partners raised its stake in shares of Laboratory Corporation of America Holdings by 3.4% in the first quarter. Boston Partners now owns 4,380,234 shares of the medical research company’s stock valued at $628,433,000 after buying an additional 142,984 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Laboratory Corporation of America Holdings by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 1,347,599 shares of the medical research company’s stock valued at $193,340,000 after buying an additional 5,743 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

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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