Laboratory Corp. of America (LH) Price Target Cut to $190.00

Laboratory Corp. of America (NYSE:LH) had its price target dropped by research analysts at Goldman Sachs Group to $190.00 in a report issued on Sunday. Goldman Sachs Group’s price target suggests a potential upside of 30.46% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Morgan Stanley lifted their target price on Laboratory Corp. of America from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Argus reiterated a “buy” rating on shares of Laboratory Corp. of America in a research note on Wednesday, August 22nd. Craig Hallum cut their target price on Laboratory Corp. of America from $201.00 to $193.00 and set a “buy” rating on the stock in a research note on Wednesday, October 3rd. Bank of America started coverage on Laboratory Corp. of America in a research note on Friday, October 19th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $190.81.

LH traded down $16.17 on Friday, hitting $145.64. The company had a trading volume of 3,802,346 shares, compared to its average volume of 740,017. Laboratory Corp. of America has a 12-month low of $142.40 and a 12-month high of $190.35. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44. The firm has a market capitalization of $14.70 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the firm earned $2.46 EPS. Laboratory Corp. of America’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Laboratory Corp. of America will post 11.3 EPS for the current year.

In other news, Director Kerrii B. Anderson sold 3,700 shares of the business’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $163.29, for a total transaction of $604,173.00. Following the sale, the director now owns 21,795 shares in the company, valued at $3,558,905.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Sanders Williams sold 350 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total value of $56,749.00. Following the sale, the director now owns 7,886 shares in the company, valued at approximately $1,278,636.04. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Laboratory Corp. of America by 0.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 389,086 shares of the medical research company’s stock worth $69,853,000 after purchasing an additional 3,039 shares during the period. Polaris Greystone Financial Group LLC acquired a new stake in shares of Laboratory Corp. of America during the third quarter worth about $3,967,000. Lee Financial Group Hawaii Inc. lifted its holdings in shares of Laboratory Corp. of America by 3.5% during the third quarter. Lee Financial Group Hawaii Inc. now owns 16,653 shares of the medical research company’s stock worth $2,892,000 after purchasing an additional 565 shares during the period. Bank OZK lifted its holdings in shares of Laboratory Corp. of America by 31.3% during the third quarter. Bank OZK now owns 2,624 shares of the medical research company’s stock worth $456,000 after purchasing an additional 625 shares during the period. Finally, Homrich & Berg acquired a new stake in shares of Laboratory Corp. of America during the second quarter worth about $245,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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