Laboratory Corp. of America (NYSE:LH) PT Raised to at Piper Sandler

Laboratory Corp. of America (NYSE:LH) had its target price lifted by Piper Sandler from to in a research note published on Thursday morning, The Fly reports.

Several other research analysts have also recently commented on LH. UBS Group lowered their target price on shares of Laboratory Corp. of America from $204.00 to $200.00 and set a buy rating on the stock in a report on Monday, October 21st. Zacks Investment Research raised shares of Laboratory Corp. of America from a sell rating to a hold rating and set a $186.00 target price on the stock in a report on Monday, January 13th. Wells Fargo & Co initiated coverage on shares of Laboratory Corp. of America in a report on Tuesday, January 7th. They set an overweight rating and a $210.00 target price on the stock. Canaccord Genuity reaffirmed a hold rating and set a $170.00 target price on shares of Laboratory Corp. of America in a report on Thursday, October 24th. Finally, Bank of America cut shares of Laboratory Corp. of America from a neutral rating to an underperform rating in a report on Friday, January 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $193.19.

LH stock traded up $0.55 during mid-day trading on Thursday, hitting $195.28. 624,203 shares of the company were exchanged, compared to its average volume of 701,471. The business has a 50 day simple moving average of $176.75 and a 200-day simple moving average of $170.23. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $17.82 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07. Laboratory Corp. of America has a 1-year low of $140.53 and a 1-year high of $196.36.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.80 by $0.06. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.92 billion. Laboratory Corp. of America had a net margin of 6.63% and a return on equity of 15.33%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $2.52 earnings per share. Equities research analysts expect that Laboratory Corp. of America will post 11.25 earnings per share for the current year.

A number of large investors have recently made changes to their positions in LH. Peddock Capital Advisors LLC bought a new position in Laboratory Corp. of America in the fourth quarter valued at approximately $25,000. Financial Advantage Inc. bought a new position in Laboratory Corp. of America in the third quarter valued at approximately $26,000. Rational Advisors LLC increased its stake in Laboratory Corp. of America by 106.2% in the third quarter. Rational Advisors LLC now owns 200 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 103 shares during the last quarter. Usca Ria LLC bought a new position in Laboratory Corp. of America in the third quarter valued at approximately $40,000. Finally, Neo Ivy Capital Management bought a new position in Laboratory Corp. of America in the fourth quarter valued at approximately $51,000. 90.74% 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 in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

Read More: Guidelines for Successful Channel Trading

The Fly

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.