Laboratory Corp. of America (NYSE:LH) Cut to Hold at ValuEngine

ValuEngine cut shares of Laboratory Corp. of America (NYSE:LH) from a buy rating to a hold rating in a research report report published on Wednesday, January 10th.

LH has been the topic of several other reports. Zacks Investment Research upgraded Laboratory Corp. of America from a sell rating to a hold rating in a report on Wednesday, January 10th. Evercore ISI began coverage on Laboratory Corp. of America in a report on Thursday, January 4th. They issued an outperform rating and a $176.00 price objective on the stock. Jefferies Group reiterated a hold rating and issued a $170.00 price objective (up from $157.00) on shares of Laboratory Corp. of America in a report on Wednesday, September 13th. Mizuho set a $165.00 price objective on Laboratory Corp. of America and gave the stock a neutral rating in a report on Friday, December 1st. Finally, Barclays reiterated a buy rating and issued a $195.00 price objective on shares of Laboratory Corp. of America in a report on Wednesday, December 13th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Laboratory Corp. of America currently has a consensus rating of Buy and a consensus price target of $171.69.

Laboratory Corp. of America (LH) traded down $0.64 during trading hours on Wednesday, hitting $171.00. The stock had a trading volume of 497,000 shares, compared to its average volume of 579,640. Laboratory Corp. of America has a 52-week low of $128.00 and a 52-week high of $172.43. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75. The firm has a market cap of $17,550.00, a PE ratio of 23.85, a PEG ratio of 1.64 and a beta of 0.87.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.08. Laboratory Corp. of America had a return on equity of 16.75% and a net margin of 7.40%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the firm earned $2.25 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. equities research analysts expect that Laboratory Corp. of America will post 9.53 earnings per share for the current year.

In other news, Director Dwight Gary Gilliland sold 971 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $153.52, for a total transaction of $149,067.92. Following the transaction, the director now directly owns 3,501 shares in the company, valued at approximately $537,473.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation raised its position in shares of Laboratory Corp. of America by 7,444.4% during the 3rd quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after buying an additional 670 shares during the period. Acrospire Investment Management LLC raised its position in shares of Laboratory Corp. of America by 16.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after buying an additional 100 shares during the period. Sun Life Financial INC raised its position in shares of Laboratory Corp. of America by 9,200.0% during the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after buying an additional 736 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Laboratory Corp. of America during the 3rd quarter valued at approximately $210,000. Finally, Institute for Wealth Management LLC. purchased a new stake in shares of Laboratory Corp. of America during the 2nd quarter valued at approximately $220,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.

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About Laboratory Corp. of America

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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