Mizuho Reiterates $169.00 Price Target for Laboratory Corp. of America (LH)

Laboratory Corp. of America (NYSE:LH) has been assigned a $169.00 target price by research analysts at Mizuho in a note issued to investors on Thursday. The firm currently has a “hold” rating on the medical research company’s stock. Mizuho’s price objective suggests a potential upside of 9.36% from the company’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley lifted their price objective on Laboratory Corp. of America from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Monday, September 10th. Argus reissued a “buy” rating on shares of Laboratory Corp. of America in a research report on Wednesday, August 22nd. Canaccord Genuity reissued a “buy” rating and issued a $200.00 price objective on shares of Laboratory Corp. of America in a research report on Tuesday, July 24th. SunTrust Banks reissued a “buy” rating and issued a $220.00 price objective on shares of Laboratory Corp. of America in a research report on Friday, July 20th. Finally, Craig Hallum lowered their price objective on Laboratory Corp. of America from $201.00 to $193.00 and set a “buy” rating for the company in a research report on Wednesday, October 3rd. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $192.19.

LH stock opened at $154.53 on Thursday. Laboratory Corp. of America has a 1-year low of $147.70 and a 1-year high of $190.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.42 and a quick ratio of 1.32. The stock has a market capitalization of $17.26 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97.



Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a return on equity of 16.38% and a net margin of 11.59%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the business posted $2.46 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. Analysts expect that Laboratory Corp. of America will post 11.52 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. SPC Financial Inc. bought a new stake in Laboratory Corp. of America in the 2nd quarter valued at about $455,000. Schwab Charles Investment Management Inc. increased its position in Laboratory Corp. of America by 0.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 389,086 shares of the medical research company’s stock valued at $69,853,000 after buying an additional 3,039 shares in the last quarter. Homrich & Berg bought a new stake in Laboratory Corp. of America in the 2nd quarter valued at about $245,000. Private Advisor Group LLC bought a new stake in Laboratory Corp. of America in the 2nd quarter valued at about $656,000. Finally, Redmile Group LLC bought a new stake in Laboratory Corp. of America in the 2nd quarter valued at about $51,776,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Do You Need a Fiduciary?

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

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply