Laboratory Corp. of America (LH) Price Target Lowered to $180.00 at Morgan Stanley

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Laboratory Corp. of America (NYSE:LH) had its price objective reduced by equities research analysts at Morgan Stanley from $202.00 to $180.00 in a research note issued to investors on Sunday. Morgan Stanley’s target price suggests a potential upside of 26.80% from the stock’s current price.

Several other research analysts have also weighed in on LH. Barclays reduced their price objective on shares of Laboratory Corp. of America from $205.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, December 3rd. Argus reaffirmed a “buy” rating on shares of Laboratory Corp. of America in a research note on Wednesday, August 22nd. Zacks Investment Research raised shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. William Blair reaffirmed a “buy” rating on shares of Laboratory Corp. of America in a research note on Monday, December 3rd. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $155.00 price target (down previously from $162.00) on shares of Laboratory Corp. of America in a research note on Sunday, December 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Laboratory Corp. of America currently has a consensus rating of “Hold” and an average target price of $179.06.

Shares of NYSE:LH traded down $1.63 during trading on Friday, hitting $141.96. 1,326,406 shares of the company’s stock were exchanged, compared to its average volume of 935,053. Laboratory Corp. of America has a 1-year low of $139.18 and a 1-year high of $190.35. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.45 and a beta of 0.99.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the business earned $2.46 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Laboratory Corp. of America will post 10.99 earnings per share for the current year.

In related news, Director Kerrii B. Anderson sold 3,700 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $163.29, for a total transaction of $604,173.00. Following the transaction, the director now directly owns 21,795 shares in the company, valued at $3,558,905.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director R Sanders Williams sold 350 shares of the business’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total transaction of $56,749.00. Following the transaction, the director now owns 7,886 shares in the company, valued at $1,278,636.04. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of LH. Legacy Financial Advisors Inc. increased its holdings in shares of Laboratory Corp. of America by 763.9% in the third quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock valued at $108,000 after purchasing an additional 550 shares during the last quarter. Fort L.P. acquired a new position in shares of Laboratory Corp. of America in the second quarter valued at $118,000. Rational Advisors LLC increased its holdings in shares of Laboratory Corp. of America by 4,966.7% in the third quarter. Rational Advisors LLC now owns 760 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 745 shares during the last quarter. NuWave Investment Management LLC increased its holdings in shares of Laboratory Corp. of America by 5,786.7% in the third quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock valued at $154,000 after purchasing an additional 868 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Laboratory Corp. of America by 663.4% in the third quarter. Brown Brothers Harriman & Co. now owns 1,000 shares of the medical research company’s stock valued at $174,000 after purchasing an additional 869 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

About Laboratory Corp. of America

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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