Barclays PLC Raises Laboratory Corporation of America Holdings (LH) Price Target to $190.00

Laboratory Corporation of America Holdings (NYSE:LH) had its target price boosted by Barclays PLC from $183.00 to $190.00 in a report published on Thursday morning. They currently have an overweight rating on the medical research company’s stock.

Several other analysts also recently commented on the company. Deutsche Bank AG increased their price objective on Laboratory Corporation of America Holdings from $170.00 to $172.00 and gave the stock a buy rating in a research note on Thursday. Craig Hallum reissued a buy rating and issued a $180.00 price objective (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday. Jefferies Group LLC reissued a hold rating and issued a $170.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Friday, October 20th. Robert W. Baird reissued a hold rating and issued a $166.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Tuesday, October 17th. Finally, SunTrust Banks, Inc. reissued a buy rating and issued a $190.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Thursday, October 12th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $169.00.

Laboratory Corporation of America Holdings (LH) traded up 1.31% on Thursday, hitting $155.40. The company’s stock had a trading volume of 910,744 shares. The firm has a 50 day moving average of $152.21 and a 200-day moving average of $149.42. The stock has a market cap of $15.82 billion, a PE ratio of 21.67 and a beta of 0.92. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.38 by $0.08. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 earnings per share. On average, analysts expect that Laboratory Corporation of America Holdings will post $9.52 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was posted by Community Financial News and is owned by of Community Financial News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.com-unik.info/2017/10/29/barclays-plc-raises-laboratory-corporation-of-america-holdings-lh-price-target-to-190-00.html.

In other Laboratory Corporation of America Holdings news, CEO David P. King sold 132,713 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $157.06, for a total transaction of $20,843,903.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David P. King sold 44,687 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $156.86, for a total value of $7,009,602.82. Following the transaction, the chief executive officer now directly owns 258,753 shares of the company’s stock, valued at $40,587,995.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,968 shares of company stock valued at $34,980,922. 0.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in LH. Teachers Advisors LLC grew its holdings in Laboratory Corporation of America Holdings by 139.9% during the first quarter. Teachers Advisors LLC now owns 445,372 shares of the medical research company’s stock valued at $63,898,000 after purchasing an additional 259,709 shares during the period. Renaissance Technologies LLC grew its holdings in Laboratory Corporation of America Holdings by 171.8% during the first quarter. Renaissance Technologies LLC now owns 184,305 shares of the medical research company’s stock valued at $26,442,000 after purchasing an additional 116,505 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Laboratory Corporation of America Holdings by 0.6% during the first quarter. Oppenheimer & Co. Inc. now owns 2,411 shares of the medical research company’s stock valued at $346,000 after purchasing an additional 15 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Laboratory Corporation of America Holdings during the first quarter valued at $208,000. Finally, State Street Corp grew its holdings in Laboratory Corporation of America Holdings by 2.4% during the first quarter. State Street Corp now owns 4,639,813 shares of the medical research company’s stock valued at $665,669,000 after purchasing an additional 109,170 shares during the period. 93.23% of the stock is owned by institutional investors and hedge funds.

About Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

Analyst Recommendations for Laboratory Corporation of America Holdings (NYSE:LH)

What are top analysts saying about Laboratory Corporation of America Holdings? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Laboratory Corporation of America Holdings and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit