ValuEngine cut shares of Laboratory Corp. of America (NYSE:LH) from a hold rating to a sell rating in a research note released on Thursday morning, ValuEngine reports.

A number of other research analysts have also recently issued reports on LH. Morgan Stanley set a $177.00 price objective on shares of Laboratory Corp. of America and gave the company a buy rating in a report on Thursday, December 20th. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a sell rating to a hold rating in a report on Wednesday, January 2nd. Bank of America cut shares of Laboratory Corp. of America from a neutral rating to an underperform rating in a report on Thursday, January 3rd. TheStreet cut shares of Laboratory Corp. of America from a b- rating to a c+ rating in a report on Friday, January 11th. Finally, UBS Group initiated coverage on shares of Laboratory Corp. of America in a report on Thursday, January 17th. They set a buy rating and a $169.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $175.50.

NYSE:LH opened at $145.22 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.51 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 1.48 and a beta of 1.15. Laboratory Corp. of America has a 12 month low of $119.38 and a 12 month high of $190.35.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 7th. The medical research company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Laboratory Corp. of America had a net margin of 8.43% and a return on equity of 17.05%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $2.45 earnings per share. As a group, research analysts anticipate that Laboratory Corp. of America will post 11.22 EPS for the current year.

In related news, Director R Sanders Williams sold 1,038 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $147.00, for a total transaction of $152,586.00. Following the transaction, the director now directly owns 8,924 shares in the company, valued at $1,311,828. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.74% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Laboratory Corp. of America by 0.8% in the third quarter. Vanguard Group Inc. now owns 10,823,667 shares of the medical research company’s stock worth $1,879,854,000 after acquiring an additional 85,785 shares during the period. Vanguard Group Inc raised its position in Laboratory Corp. of America by 0.8% in the third quarter. Vanguard Group Inc now owns 10,823,667 shares of the medical research company’s stock worth $1,879,854,000 after acquiring an additional 85,785 shares during the period. BlackRock Inc. raised its position in Laboratory Corp. of America by 6.9% in the fourth quarter. BlackRock Inc. now owns 9,772,113 shares of the medical research company’s stock worth $1,234,806,000 after acquiring an additional 633,105 shares during the period. Nordea Investment Management AB raised its position in Laboratory Corp. of America by 7.3% in the fourth quarter. Nordea Investment Management AB now owns 2,120,509 shares of the medical research company’s stock worth $267,945,000 after acquiring an additional 143,426 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Laboratory Corp. of America by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 1,645,798 shares of the medical research company’s stock worth $285,845,000 after acquiring an additional 213,849 shares during the period. Institutional investors and hedge funds own 91.51% 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 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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