Robert W. Baird Trims Laboratory Corp. of America (LH) Target Price to $190.00

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Laboratory Corp. of America (NYSE:LH) had its price target lowered by Robert W. Baird from $205.00 to $190.00 in a research report released on Thursday, October 25th. Robert W. Baird currently has an outperform rating on the medical research company’s stock.

LH has been the subject of several other research reports. Zacks Investment Research downgraded Laboratory Corp. of America from a hold rating to a sell rating in a research report on Tuesday, September 25th. Credit Suisse Group dropped their price target on Laboratory Corp. of America from $197.00 to $195.00 and set an outperform rating for the company in a research report on Tuesday, September 4th. Morgan Stanley raised their price objective on Laboratory Corp. of America from $192.00 to $202.00 and gave the stock a buy rating in a report on Monday, September 10th. Craig Hallum decreased their price objective on Laboratory Corp. of America from $201.00 to $193.00 and set a buy rating on the stock in a report on Wednesday, October 3rd. Finally, Deutsche Bank decreased their price objective on Laboratory Corp. of America from $195.00 to $190.00 and set a hold rating on the stock in a report on Monday, August 20th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Laboratory Corp. of America currently has a consensus rating of Buy and a consensus price target of $192.19.

Shares of LH traded down $1.31 during mid-day trading on Thursday, hitting $170.15. The company’s stock had a trading volume of 682,934 shares, compared to its average volume of 930,082. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44. The stock has a market capitalization of $17.25 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.62 and a beta of 1.00. Laboratory Corp. of America has a 1-year low of $147.70 and a 1-year high of $190.35.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.14). The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.84 billion. Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 earnings per share. Research analysts anticipate that Laboratory Corp. of America will post 11.33 EPS for the current year.

In related news, Director Kerrii B. Anderson sold 3,700 shares of Laboratory Corp. of America 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 in the company, valued at $3,558,905.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of LH. LPL Financial LLC increased its position in Laboratory Corp. of America by 30.1% during the 1st quarter. LPL Financial LLC now owns 5,311 shares of the medical research company’s stock valued at $859,000 after purchasing an additional 1,230 shares during the period. CIBC World Markets Inc. increased its position in Laboratory Corp. of America by 227.3% during the 1st quarter. CIBC World Markets Inc. now owns 7,790 shares of the medical research company’s stock valued at $1,260,000 after purchasing an additional 5,410 shares during the period. Principal Financial Group Inc. increased its position in Laboratory Corp. of America by 6.7% during the 1st quarter. Principal Financial Group Inc. now owns 312,531 shares of the medical research company’s stock valued at $50,552,000 after purchasing an additional 19,572 shares during the period. Allianz Asset Management GmbH increased its position in Laboratory Corp. of America by 0.8% during the 1st quarter. Allianz Asset Management GmbH now owns 313,729 shares of the medical research company’s stock valued at $50,745,000 after purchasing an additional 2,403 shares during the period. Finally, Suntrust Banks Inc. increased its position in Laboratory Corp. of America by 14.1% during the 1st quarter. Suntrust Banks Inc. now owns 16,042 shares of the medical research company’s stock valued at $2,593,000 after purchasing an additional 1,982 shares during the period. Institutional investors own 91.99% 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 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.

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

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