Laboratory Corp. of America (NYSE:LH) Price Target Cut to $188.00

Laboratory Corp. of America (NYSE:LH) had its price target reduced by stock analysts at Barclays from $212.00 to $188.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price would suggest a potential upside of 39.97% from the company’s previous close.

Several other brokerages also recently issued reports on LH. Evercore ISI began coverage on shares of Laboratory Corp. of America in a research report on Friday, February 14th. They set a “buy” rating and a $215.00 price objective on the stock. Mizuho raised their price objective on shares of Laboratory Corp. of America from $174.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Laboratory Corp. of America from $204.00 to $182.00 and set an “overweight” rating on the stock in a research report on Tuesday. Bank of America downgraded shares of Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a research report on Friday, January 3rd. Finally, Piper Sandler raised their price objective on shares of Laboratory Corp. of America from to in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $196.77.

LH stock traded up $11.49 during mid-day trading on Thursday, reaching $134.31. The company’s stock had a trading volume of 77,359 shares, compared to its average volume of 1,514,146. The stock has a market cap of $11.46 billion, a PE ratio of 16.05, a P/E/G ratio of 1.47 and a beta of 0.95. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.86. Laboratory Corp. of America has a fifty-two week low of $98.02 and a fifty-two week high of $196.36. The company’s 50 day moving average is $168.58 and its two-hundred day moving average is $169.97.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.86 EPS for the quarter, beating the Zacks’ consensus estimate of $2.80 by $0.06. Laboratory Corp. of America had a net margin of 7.13% and a return on equity of 15.37%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. Laboratory Corp. of America’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that Laboratory Corp. of America will post 11.98 earnings per share for the current fiscal year.

In other news, SVP Der Vaart Sandra D. Van sold 208 shares of Laboratory Corp. of America stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $188.49, for a total value of $39,205.92. Following the sale, the senior vice president now owns 2,819 shares of the company’s stock, valued at $531,353.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark S. Schroeder sold 188 shares of Laboratory Corp. of America stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $188.49, for a total transaction of $35,436.12. Following the completion of the sale, the executive vice president now directly owns 533 shares in the company, valued at approximately $100,465.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,413 shares of company stock worth $5,199,483. Insiders own 0.74% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in LH. Voya Investment Management LLC boosted its holdings in Laboratory Corp. of America by 0.9% during the third quarter. Voya Investment Management LLC now owns 46,312 shares of the medical research company’s stock worth $7,780,000 after buying an additional 391 shares in the last quarter. Endurant Capital Management LP boosted its holdings in Laboratory Corp. of America by 7.3% during the third quarter. Endurant Capital Management LP now owns 88,983 shares of the medical research company’s stock worth $14,949,000 after buying an additional 6,083 shares in the last quarter. Virtu Financial LLC purchased a new stake in Laboratory Corp. of America during the third quarter worth about $357,000. Stifel Financial Corp boosted its holdings in Laboratory Corp. of America by 5.9% during the third quarter. Stifel Financial Corp now owns 53,728 shares of the medical research company’s stock worth $9,041,000 after buying an additional 2,973 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Laboratory Corp. of America by 168.5% during the third quarter. Global Retirement Partners LLC now owns 349 shares of the medical research company’s stock worth $59,000 after buying an additional 219 shares in the last quarter. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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