Laboratory Corporation of America Holdings (NYSE:LH) Receives Hold Rating from Robert W. Baird

Robert W. Baird reiterated their hold rating on shares of Laboratory Corporation of America Holdings (NYSE:LH) in a research report sent to investors on Tuesday, October 17th. Robert W. Baird currently has a $166.00 target price on the medical research company’s stock.

Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Laboratory Corporation of America Holdings from a buy rating to a strong-buy rating in a research report on Wednesday, June 28th. Jefferies Group LLC reissued a hold rating and set a $170.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Wednesday, September 13th. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a hold rating to a buy rating and set a $170.00 price target on the stock in a report on Tuesday, October 10th. Morgan Stanley boosted their target price on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the company an overweight rating in a research note on Thursday, August 10th. Finally, Canaccord Genuity reiterated a buy rating and issued a $180.00 target price (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, September 11th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Laboratory Corporation of America Holdings currently has a consensus rating of Buy and a consensus target price of $169.00.

Shares of Laboratory Corporation of America Holdings (NYSE LH) traded down $1.97 during trading hours on Tuesday, hitting $151.77. 216,661 shares of the stock were exchanged, compared to its average volume of 691,633. The company has a market cap of $15,650.73, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.63 and a beta of 0.87. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.08. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the firm earned $2.25 earnings per share. Laboratory Corporation of America Holdings’s quarterly revenue was up 9.5% on a year-over-year basis. equities research analysts anticipate that Laboratory Corporation of America Holdings will post 9.52 EPS for the current year.

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In other news, Director R Sanders Williams sold 3,100 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $156.88, for a total transaction of $486,328.00. Following the completion of the sale, the director now directly owns 10,073 shares of the company’s stock, valued at $1,580,252.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David P. King sold 132,713 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $157.06, for a total transaction of $20,843,903.78. The disclosure for this sale can be found here. Insiders have sold 212,971 shares of company stock worth $33,378,333 in the last ninety days. Insiders own 0.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its holdings in shares of Laboratory Corporation of America Holdings by 16.5% during the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 100 shares in the last quarter. Sun Life Financial INC increased its holdings in 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 during the period. Parallel Advisors LLC increased its holdings in 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 during the period. IFP Advisors Inc increased its holdings in 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 during the period. Finally, Hourglass Capital LLC purchased a new stake in Laboratory Corporation of America Holdings in the 2nd quarter worth approximately $200,000. Hedge funds and other institutional investors own 93.84% of the company’s stock.

About Laboratory Corporation of America Holdings

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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