Laboratory Corporation of America Holdings (LH) Receives “Hold” Rating from Jefferies Group LLC

Laboratory Corporation of America Holdings (NYSE:LH)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. They presently have a $170.00 price objective on the medical research company’s stock. Jefferies Group LLC’s target price points to a potential upside of 12.05% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Robert W. Baird reiterated a “hold” rating and set a $166.00 price target on shares of Laboratory Corporation of America Holdings in a research note on Tuesday. SunTrust Banks, Inc. reiterated a “buy” rating and set a $190.00 price target on shares of Laboratory Corporation of America Holdings in a research note on Thursday, October 12th. Wells Fargo & Company began coverage on shares of Laboratory Corporation of America Holdings in a research note on Thursday, October 12th. They set an “outperform” rating and a $175.00 price target on the stock. 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 research note on Tuesday, October 10th. Finally, KeyCorp reiterated a “hold” rating on shares of Laboratory Corporation of America Holdings in a research note on Tuesday, September 26th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Laboratory Corporation of America Holdings currently has an average rating of “Buy” and a consensus price target of $170.31.

Laboratory Corporation of America Holdings (LH) traded up 0.26% during midday trading on Friday, hitting $151.72. 692,597 shares of the stock traded hands. The company has a market cap of $15.45 billion, a P/E ratio of 21.25 and a beta of 0.92. The company’s 50 day moving average is $152.76 and its 200-day moving average is $149.09. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22.

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

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In other Laboratory Corporation of America Holdings news, insider Lisa J. Uthgenannt sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total value of $800,000.00. The sale was disclosed in a filing with the SEC, which is available at 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 shares were 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. In the last three months, insiders have sold 222,968 shares of company stock worth $34,980,922. 0.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Regentatlantic Capital LLC lifted its holdings in shares of Laboratory Corporation of America Holdings by 0.5% in the second quarter. Regentatlantic Capital LLC now owns 1,696 shares of the medical research company’s stock valued at $261,000 after purchasing an additional 8 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Laboratory Corporation of America Holdings by 0.6% in the first quarter. Oppenheimer & Co. Inc. now owns 2,411 shares of the medical research company’s stock valued at $346,000 after purchasing an additional 15 shares in the last quarter. New Amsterdam Partners LLC NY lifted its holdings in shares of Laboratory Corporation of America Holdings by 0.7% in the second quarter. New Amsterdam Partners LLC NY now owns 3,847 shares of the medical research company’s stock valued at $593,000 after purchasing an additional 27 shares in the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in shares of Laboratory Corporation of America Holdings by 0.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 7,703 shares of the medical research company’s stock valued at $1,186,000 after purchasing an additional 49 shares in the last quarter. Finally, Fiduciary Financial Services of The Southwest Inc. TX lifted its holdings in shares of Laboratory Corporation of America Holdings by 2.3% in the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,200 shares of the medical research company’s stock valued at $339,000 after purchasing an additional 50 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors.

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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