Laboratory Corporation of America Holdings (LH) PT Raised to $166.00

Laboratory Corporation of America Holdings (NYSE:LH) had its target price lifted by research analysts at Morgan Stanley from $154.00 to $166.00 in a research note issued on Thursday. The firm currently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price objective indicates a potential upside of 6.27% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Craig Hallum reiterated a “buy” rating and issued a $179.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Credit Suisse Group reiterated a “buy” rating and issued a $146.00 price objective on shares of Laboratory Corporation of America Holdings in a report on Sunday, May 28th. BidaskClub upgraded Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. ValuEngine downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Finally, Jefferies Group LLC cut their price objective on Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $159.00.

Shares of Laboratory Corporation of America Holdings (LH) opened at 156.21 on Thursday. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 21.88 and a beta of 0.94. Laboratory Corporation of America Holdings has a 12-month low of $119.51 and a 12-month high of $164.22. The company’s 50-day moving average price is $155.35 and its 200 day moving average price is $144.27.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.07. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 earnings per share. On average, equities analysts predict that Laboratory Corporation of America Holdings will post $9.51 earnings per share for the current year.

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In related news, insider Lisa J. Uthgenannt sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lance Berberian sold 3,613 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total value of $505,241.92. Following the transaction, the senior vice president now directly owns 5,789 shares of the company’s stock, valued at $809,533.76. The disclosure for this sale can be found here. Insiders have sold a total of 14,581 shares of company stock valued at $2,256,899 over the last three months. 0.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. boosted its position in Laboratory Corporation of America Holdings by 29.0% in the first quarter. Raymond James Trust N.A. now owns 3,115 shares of the medical research company’s stock valued at $447,000 after buying an additional 701 shares during the last quarter. Sheets Smith Wealth Management bought a new position in Laboratory Corporation of America Holdings during the first quarter valued at approximately $215,000. Gulf International Bank UK Ltd boosted its position in Laboratory Corporation of America Holdings by 9.4% in the first quarter. Gulf International Bank UK Ltd now owns 32,581 shares of the medical research company’s stock valued at $4,674,000 after buying an additional 2,800 shares during the last quarter. National Pension Service boosted its position in Laboratory Corporation of America Holdings by 0.8% in the first quarter. National Pension Service now owns 89,705 shares of the medical research company’s stock valued at $12,916,000 after buying an additional 751 shares during the last quarter. Finally, Murphy Capital Management Inc. bought a new position in Laboratory Corporation of America Holdings during the first quarter valued at approximately $215,000. 91.89% of the stock is owned by hedge funds and other institutional investors.

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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