Laboratory Corp. of America (NYSE:LH) had its target price reduced by Morgan Stanley from $202.00 to $180.00 in a report published on Monday morning, MarketBeat Ratings reports. They currently have an overweight rating on the medical research company’s stock.

LH has been the topic of a number of other research reports. ValuEngine lowered Laboratory Corp. of America from a hold rating to a sell rating in a research note on Saturday, December 1st. Bank of America began coverage on Laboratory Corp. of America in a research note on Friday, October 19th. They set a buy rating on the stock. Goldman Sachs Group lowered Laboratory Corp. of America from a conviction-buy rating to a buy rating and lowered their price objective for the stock from $190.00 to $180.00 in a research note on Friday, November 30th. Canaccord Genuity reissued a hold rating and set a $155.00 price objective (down previously from $162.00) on shares of Laboratory Corp. of America in a research note on Sunday, December 2nd. Finally, Zacks Investment Research raised Laboratory Corp. of America from a sell rating to a hold rating in a research note on Wednesday, November 21st. Two 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 currently has an average rating of Hold and an average target price of $179.69.

Shares of NYSE:LH opened at $143.59 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $14.46 billion, a PE ratio of 14.96, a PEG ratio of 1.47 and a beta of 0.99. Laboratory Corp. of America has a 1 year low of $139.18 and a 1 year high of $190.35.

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

In other news, Director Kerrii B. Anderson sold 3,700 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the transaction, the director now owns 21,795 shares of the company’s stock, valued at approximately $3,558,905.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director R Sanders Williams sold 350 shares of the company’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $162.14, for a total value of $56,749.00. Following the completion of the transaction, the director now directly owns 7,886 shares in the company, valued at approximately $1,278,636.04. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Legacy Financial Advisors Inc. lifted its stake in shares of Laboratory Corp. of America by 763.9% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock valued at $108,000 after purchasing an additional 550 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Laboratory Corp. of America by 7,033.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 633 shares during the last quarter. Fort L.P. purchased a new stake in shares of Laboratory Corp. of America in the 2nd quarter valued at $118,000. Rational Advisors LLC raised its holdings in shares of Laboratory Corp. of America by 4,966.7% in the 3rd quarter. Rational Advisors LLC now owns 760 shares of the medical research company’s stock valued at $132,000 after buying an additional 745 shares during the period. Finally, NuWave Investment Management LLC raised its holdings in shares of Laboratory Corp. of America by 5,786.7% in the 3rd quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock valued at $154,000 after buying an additional 868 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Corp. of America Company Profile

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.

Further Reading: Return on Equity (ROE)

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

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