Shares of Laboratory Corporation of America Holdings (NYSE:LH) have been given a consensus rating of “Buy” by the sixteen research firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $170.31.

LH has been the subject of a number of analyst reports. Barclays PLC increased their price objective on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $170.00 price objective (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Wednesday, September 13th. Wells Fargo & Company initiated coverage on shares of Laboratory Corporation of America Holdings in a research note on Thursday, October 12th. They issued an “outperform” rating and a $175.00 price objective for the company. Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Robert W. Baird reissued a “hold” rating on shares of Laboratory Corporation of America Holdings in a research note on Sunday, September 17th.

Laboratory Corporation of America Holdings (NYSE LH) traded up 0.04% on Thursday, hitting $149.73. 527,769 shares of the stock were exchanged. The firm has a market cap of $15.24 billion, a P/E ratio of 20.97 and a beta of 0.92. 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 50-day moving average of $153.32 and a 200 day moving average of $148.94.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.07. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.36 earnings per share. Equities research analysts expect that Laboratory Corporation of America Holdings will post $9.52 earnings per share for the current fiscal year.

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In related news, CEO David P. King sold 132,713 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total transaction of $20,843,903.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Insiders have sold 222,968 shares of company stock valued at $34,980,922 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Acrospire Investment Management LLC grew its stake in shares of Laboratory Corporation of America Holdings by 16.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock worth $109,000 after buying an additional 100 shares in the last quarter. Sun Life Financial INC grew its stake in shares of Laboratory Corporation of America Holdings by 9,200.0% in the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock worth $115,000 after buying an additional 736 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Laboratory Corporation of America Holdings by 377.7% in the 1st quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock worth $177,000 after buying an additional 997 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Laboratory Corporation of America Holdings by 83.9% in the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock worth $177,000 after buying an additional 523 shares in the last quarter. Finally, Hourglass Capital LLC purchased a new position in shares of Laboratory Corporation of America Holdings in the 2nd quarter worth $200,000. 92.97% of the stock is owned by institutional investors and hedge funds.

Laboratory Corporation of America Holdings Company Profile

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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