Goldman Sachs Group Lowers Laboratory Corp. of America (LH) to Buy

Goldman Sachs Group cut shares of Laboratory Corp. of America (NYSE:LH) from a conviction-buy rating to a buy rating in a research note published on Friday morning, Marketbeat.com reports. The brokerage currently has $180.00 target price on the medical research company’s stock, down from their prior target price of $190.00.

Several other analysts also recently commented on LH. Deutsche Bank lowered their price objective on Laboratory Corp. of America from $195.00 to $190.00 and set a hold rating for the company in a research note on Monday, August 20th. Argus reaffirmed a buy rating on shares of Laboratory Corp. of America in a research report on Wednesday, August 22nd. Credit Suisse Group decreased their price target on Laboratory Corp. of America from $197.00 to $195.00 and set an outperform rating for the company in a research report on Tuesday, September 4th. Morgan Stanley increased their price target on Laboratory Corp. of America from $192.00 to $202.00 and gave the company a buy rating in a research report on Monday, September 10th. Finally, Mizuho reaffirmed a neutral rating on shares of Laboratory Corp. of America in a research report on Wednesday, September 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Laboratory Corp. of America currently has an average rating of Hold and an average price target of $190.81.

Shares of Laboratory Corp. of America stock opened at $145.64 on Friday. The company has a market capitalization of $14.70 billion, a PE ratio of 15.17, a P/E/G ratio of 1.36 and a beta of 1.00. Laboratory Corp. of America has a 52 week low of $142.40 and a 52 week 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.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.74 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.14). The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $2.46 earnings per share. On average, equities research analysts predict that Laboratory Corp. of America will post 11.3 earnings per share for the current fiscal year.

In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 3,700 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the completion of the sale, the director now directly owns 21,795 shares of the company’s stock, valued at $3,558,905.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Sanders Williams sold 350 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total value of $56,749.00. Following the completion of the sale, the director now directly owns 7,886 shares of the company’s stock, valued at $1,278,636.04. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Laboratory Corp. of America by 0.8% in the third quarter. Vanguard Group Inc. now owns 10,823,667 shares of the medical research company’s stock worth $1,879,854,000 after buying an additional 85,785 shares during the last quarter. Morgan Stanley increased its position in Laboratory Corp. of America by 30.9% in the third quarter. Morgan Stanley now owns 1,006,695 shares of the medical research company’s stock worth $174,843,000 after buying an additional 237,918 shares during the last quarter. Legal & General Group Plc increased its position in Laboratory Corp. of America by 7.2% in the third quarter. Legal & General Group Plc now owns 594,918 shares of the medical research company’s stock worth $103,275,000 after buying an additional 40,015 shares during the last quarter. Standard Life Aberdeen plc increased its position in Laboratory Corp. of America by 7.4% in the third quarter. Standard Life Aberdeen plc now owns 42,209 shares of the medical research company’s stock worth $7,331,000 after buying an additional 2,907 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of Laboratory Corp. of America by 16,859.4% in the third quarter. Rehmann Capital Advisory Group now owns 544,566 shares of the medical research company’s stock worth $1,062,784,000 after acquiring an additional 541,355 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.

Laboratory Corp. of America Company Profile

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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