Laboratory Corp. of America (NYSE:LH) had its price target increased by Citigroup from $214.00 to $249.00 in a research report report published on Wednesday, The Fly reports. Citigroup currently has a buy rating on the medical research company’s stock.
A number of other equities analysts have also commented on the company. Barclays raised their price objective on Laboratory Corp. of America from $188.00 to $195.00 and gave the stock an overweight rating in a research note on Thursday, April 23rd. Mizuho upgraded Laboratory Corp. of America from a neutral rating to a buy rating and raised their price objective for the stock from $158.00 to $186.00 in a research note on Friday, May 15th. Wells Fargo & Co restated a buy rating on shares of Laboratory Corp. of America in a research note on Wednesday, June 10th. Morgan Stanley raised their price objective on Laboratory Corp. of America from $241.00 to $244.00 and gave the stock an overweight rating in a research note on Wednesday, May 20th. Finally, SunTrust Banks lifted their price target on Laboratory Corp. of America from $200.00 to $220.00 and gave the company a buy rating in a research note on Thursday, May 21st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $214.44.
Shares of NYSE LH opened at $192.92 on Wednesday. The firm has a market cap of $18.75 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.38. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 0.83. Laboratory Corp. of America has a 1-year low of $98.02 and a 1-year high of $206.74. The business’s 50 day moving average is $177.01 and its 200-day moving average is $167.49.
In related news, Director R Sanders Williams sold 1,300 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $173.12, for a total transaction of $225,056.00. Following the sale, the director now owns 6,395 shares of the company’s stock, valued at approximately $1,107,102.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 435 shares of Laboratory Corp. of America stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $170.00, for a total value of $73,950.00. Following the transaction, the executive vice president now directly owns 4,044 shares in the company, valued at $687,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,607 shares of company stock worth $438,814. 0.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. National Asset Management Inc. lifted its holdings in Laboratory Corp. of America by 100.7% during the 2nd quarter. National Asset Management Inc. now owns 5,412 shares of the medical research company’s stock worth $901,000 after buying an additional 2,716 shares during the period. Comerica Bank lifted its holdings in Laboratory Corp. of America by 2.5% during the 2nd quarter. Comerica Bank now owns 24,130 shares of the medical research company’s stock worth $4,828,000 after buying an additional 596 shares during the period. Jaffetilchin Investment Partners LLC acquired a new position in Laboratory Corp. of America during the 2nd quarter worth about $42,000. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in Laboratory Corp. of America by 10.6% during the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 35,547 shares of the medical research company’s stock worth $5,905,000 after buying an additional 3,405 shares during the period. Finally, Ingalls & Snyder LLC acquired a new position in Laboratory Corp. of America during the 2nd quarter worth about $218,000. 88.80% of the stock is currently owned by hedge funds and other institutional investors.
About Laboratory Corp. of America
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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