Several analysts have recently updated their ratings and price targets for Laboratory Corporation of America Holdings (NYSE: LH):

  • 8/10/2017 – Laboratory Corporation of America Holdings had its price target raised by analysts at Morgan Stanley from $154.00 to $166.00. They now have an “overweight” rating on the stock.
  • 7/27/2017 – Laboratory Corporation of America Holdings had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $179.00 price target on the stock, up previously from $157.00.
  • 7/27/2017 – Laboratory Corporation of America Holdings was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “LabCorp posted a better-than-expected quarter with second-quarter earnings and revenues, both topping the respective Zacks Consensus Estimate. While Diagnostics business was strong, Covance Drug Development provided dull numbers. As per LabCorp, the impact of the cancellation by sponsors of two large clinical studies in late 2016 affected the results. This apart, an unfavorable foreign exchange continues to hamper overall result. Yet, an increased 2017 guidance boosted investors’ confidence indicating chances of respite anytime soon. We believe that with the integration of newer acquisitions, LabCorp is perfectly positioned to drive long-term profitable growth. We note that, this overall mixed performance has been reflected in the company’s share price trend too. In majority of the last one month, LabCorp was trading below the broader industry. However, of late it has started to tread up and is currently trading above the industry.”
  • 7/27/2017 – Laboratory Corporation of America Holdings had its price target raised by analysts at Barclays PLC from $182.00 to $183.00. They now have an “overweight” rating on the stock.
  • 7/17/2017 – Laboratory Corporation of America Holdings had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $182.00 price target on the stock, up previously from $175.00.
  • 7/13/2017 – Laboratory Corporation of America Holdings was downgraded by analysts at Credit Suisse Group to a “hold” rating. They now have a $146.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 6/28/2017 – Laboratory Corporation of America Holdings was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/17/2017 – Laboratory Corporation of America Holdings was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Laboratory Corporation of America Holdings (NYSE LH) traded down 0.86% during mid-day trading on Thursday, hitting $156.40. 597,838 shares of the stock traded hands. The stock’s 50 day moving average is $154.89 and its 200-day moving average is $144.02. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22. The company has a market cap of $15.92 billion, a price-to-earnings ratio of 21.90 and a beta of 0.94.

Laboratory Corporation of America Holdings (NYSE:LH) last released its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.40 by $0.07. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.36 earnings per share. On average, equities research analysts anticipate that Laboratory Corporation of America Holdings will post $9.51 EPS for the current year.

In related news, insider Lisa J. Uthgenannt sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Lance Berberian sold 3,613 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 5,789 shares in the company, valued at approximately $809,533.76. The disclosure for this sale can be found here. Insiders sold 14,581 shares of company stock worth $2,256,899 over the last quarter. Company insiders own 0.90% of the company’s stock.

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).

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