Laboratory Corp. of America (LH) Now Covered by Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Laboratory Corp. of America (NYSE:LH) in a report published on Thursday morning. The firm issued an outperform rating and a $176.00 price objective on the medical research company’s stock.

Several other equities research analysts have also commented on the stock. Barclays boosted their price target on shares of Laboratory Corp. of America from $183.00 to $190.00 and gave the company an overweight rating in a report on Thursday, October 26th. Zacks Investment Research lowered shares of Laboratory Corp. of America from a buy rating to a hold rating in a report on Friday, October 27th. Jefferies Group restated a hold rating and issued a $170.00 price target (up previously from $157.00) on shares of Laboratory Corp. of America in a report on Wednesday, September 13th. Canaccord Genuity restated a buy rating and issued a $180.00 price target (up previously from $175.00) on shares of Laboratory Corp. of America in a report on Monday, September 11th. Finally, ValuEngine upgraded shares of Laboratory Corp. of America from a hold rating to a buy rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $171.69.

Laboratory Corp. of America (NYSE LH) traded down $0.59 during trading hours on Thursday, hitting $162.46. 365,500 shares of the stock traded hands, compared to its average volume of 417,100. Laboratory Corp. of America has a twelve month low of $128.00 and a twelve month high of $165.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.75 and a current ratio of 1.89. The company has a market cap of $16,670.00, a price-to-earnings ratio of 22.66, a P/E/G ratio of 1.60 and a beta of 0.87.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.38 by $0.08. Laboratory Corp. of America 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 analyst estimates of $2.55 billion. During the same quarter in the previous year, the business posted $2.25 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. sell-side analysts expect that Laboratory Corp. of America will post 9.53 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Laboratory Corp. of America by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,361,891 shares of the medical research company’s stock valued at $1,597,181,000 after purchasing an additional 231,600 shares in the last quarter. Boston Partners increased its stake in Laboratory Corp. of America by 0.6% during the 3rd quarter. Boston Partners now owns 4,619,670 shares of the medical research company’s stock valued at $697,432,000 after purchasing an additional 29,298 shares in the last quarter. Nordea Investment Management AB increased its stake in Laboratory Corp. of America by 2.0% during the 2nd quarter. Nordea Investment Management AB now owns 2,696,851 shares of the medical research company’s stock valued at $415,693,000 after purchasing an additional 54,100 shares in the last quarter. FMR LLC increased its stake in Laboratory Corp. of America by 9.4% during the 2nd quarter. FMR LLC now owns 1,780,950 shares of the medical research company’s stock valued at $274,516,000 after purchasing an additional 153,546 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Laboratory Corp. of America by 70.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock valued at $237,857,000 after purchasing an additional 637,848 shares in the last quarter. Hedge funds and other institutional investors own 91.21% of the company’s stock.

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Laboratory Corp. of America 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 Corp. of America (NYSE:LH)

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