Laboratory Corp. of America (LH) Lowered to Hold at ValuEngine

Laboratory Corp. of America (NYSE:LH) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other equities analysts have also recently issued reports about the stock. SunTrust Banks reaffirmed a “buy” rating and set a $190.00 target price on shares of Laboratory Corp. of America in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $173.00 target price for the company in a research note on Thursday, September 21st. Deutsche Bank raised their target price on shares of Laboratory Corp. of America from $170.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Craig Hallum reissued a “buy” rating and issued a $180.00 price objective (up from $175.00) on shares of Laboratory Corp. of America in a research note on Thursday, October 26th. Finally, Barclays reissued a “buy” rating and issued a $195.00 price objective on shares of Laboratory Corp. of America in a research note on Wednesday, December 13th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $171.69.

Laboratory Corp. of America (NYSE LH) traded up $4.60 on Wednesday, reaching $170.54. 902,900 shares of the company traded hands, compared to its average volume of 625,733. The stock has a market capitalization of $17,170.00, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.63 and a beta of 0.87. Laboratory Corp. of America has a 52 week low of $128.00 and a 52 week high of $171.38. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 1.18.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Laboratory Corp. of America had a net margin of 7.40% and a return on equity of 16.75%. Laboratory Corp. of America’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $2.25 earnings per share. analysts anticipate that Laboratory Corp. of America will post 9.53 earnings per share for the current year.

In other Laboratory Corp. of America news, Director Dwight Gary Gilliland sold 971 shares of Laboratory Corp. of America stock in a transaction on Monday, October 30th. The shares were sold at an average price of $153.52, for a total value of $149,067.92. Following the completion of the transaction, the director now directly owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. DnB Asset Management AS boosted its stake in shares of Laboratory Corp. of America by 2.7% during the 4th quarter. DnB Asset Management AS now owns 11,474 shares of the medical research company’s stock worth $1,830,000 after purchasing an additional 300 shares during the period. Atlantic Trust Group LLC boosted its stake in shares of Laboratory Corp. of America by 12.9% during the 3rd quarter. Atlantic Trust Group LLC now owns 16,577 shares of the medical research company’s stock worth $2,502,000 after purchasing an additional 1,891 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Laboratory Corp. of America by 8.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 271,407 shares of the medical research company’s stock worth $40,974,000 after purchasing an additional 21,533 shares during the period. Burgundy Asset Management Ltd. boosted its stake in shares of Laboratory Corp. of America by 3.5% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 76,792 shares of the medical research company’s stock worth $11,593,000 after purchasing an additional 2,576 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Laboratory Corp. of America during the 3rd quarter worth about $771,000. 91.21% of the stock is owned by hedge funds and other institutional investors.

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Laboratory Corp. of America Company Profile

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).

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

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