Laboratory Corp. of America (LH) Stock Rating Reaffirmed by Argus

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Laboratory Corp. of America (NYSE:LH)‘s stock had its “buy” rating reaffirmed by investment analysts at Argus in a research note issued to investors on Wednesday.

LH has been the topic of a number of other reports. SunTrust Banks reaffirmed a “buy” rating and set a $220.00 price objective on shares of Laboratory Corp. of America in a research report on Friday, July 20th. Barclays lifted their price objective on Laboratory Corp. of America from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, May 25th. Zacks Investment Research cut Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research report on Monday, April 30th. ValuEngine cut Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, Mizuho reaffirmed a “hold” rating and set a $189.00 price objective on shares of Laboratory Corp. of America in a research report on Thursday, July 26th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Laboratory Corp. of America presently has a consensus rating of “Buy” and a consensus target price of $196.18.

Shares of LH stock traded down $0.16 during trading hours on Wednesday, reaching $177.42. 1,903 shares of the company traded hands, compared to its average volume of 824,981. Laboratory Corp. of America has a 12-month low of $146.68 and a 12-month high of $190.35. The company has a quick ratio of 1.32, a current ratio of 1.42 and a debt-to-equity ratio of 0.86. The stock has a market cap of $18.57 billion, a P/E ratio of 18.47, a PEG ratio of 1.75 and a beta of 0.98.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.06. Laboratory Corp. of America had a return on equity of 16.38% and a net margin of 11.59%. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the firm earned $2.47 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. equities research analysts expect that Laboratory Corp. of America will post 11.54 earnings per share for the current fiscal year.

In related news, CEO M. Huff Gary sold 1,610 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $182.50, for a total value of $293,825.00. Following the transaction, the chief executive officer now directly owns 1,610 shares of the company’s stock, valued at approximately $293,825. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Edward T. Dodson sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $183.35, for a total value of $2,383,550.00. Following the sale, the insider now directly owns 22,113 shares in the company, valued at $4,054,418.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,110 shares of company stock worth $5,308,925. 0.73% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of LH. OppenheimerFunds Inc. raised its holdings in shares of Laboratory Corp. of America by 113.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,700,776 shares of the medical research company’s stock worth $305,341,000 after acquiring an additional 903,554 shares in the last quarter. Egerton Capital UK LLP purchased a new stake in shares of Laboratory Corp. of America during the 2nd quarter worth approximately $150,989,000. BlackRock Inc. raised its holdings in shares of Laboratory Corp. of America by 9.1% during the 2nd quarter. BlackRock Inc. now owns 8,711,292 shares of the medical research company’s stock worth $1,563,937,000 after acquiring an additional 729,038 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Laboratory Corp. of America by 532.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 835,557 shares of the medical research company’s stock worth $135,151,000 after acquiring an additional 703,375 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Laboratory Corp. of America by 7.8% during the 1st quarter. Boston Partners now owns 5,673,767 shares of the medical research company’s stock worth $917,732,000 after acquiring an additional 409,742 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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