Laboratory Corp. of America (NYSE:LH) Lifted to “Buy” at Deutsche Bank

Deutsche Bank upgraded shares of Laboratory Corp. of America (NYSE:LH) from a hold rating to a buy rating in a report published on Thursday morning, Benzinga reports. They currently have $220.00 target price on the medical research company’s stock, up from their prior target price of $180.00.

A number of other equities analysts have also issued reports on LH. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a hold rating to a buy rating and set a $185.00 target price on the stock in a research report on Thursday, May 16th. ValuEngine upgraded shares of Laboratory Corp. of America from a sell rating to a hold rating in a research report on Wednesday, April 24th. TheStreet upgraded shares of Laboratory Corp. of America from a c+ rating to a b- rating in a research report on Friday, May 3rd. UBS Group increased their price objective on shares of Laboratory Corp. of America from $178.00 to $195.00 and gave the company a buy rating in a report on Wednesday, May 1st. Finally, Mizuho increased their price objective on shares of Laboratory Corp. of America from $150.00 to $174.00 and gave the company a neutral rating in a report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $181.33.

Shares of LH stock opened at $170.80 on Thursday. Laboratory Corp. of America has a 1 year low of $119.38 and a 1 year high of $190.00. The company has a market cap of $16.82 billion, a PE ratio of 15.50, a P/E/G ratio of 1.77 and a beta of 1.05. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.77.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Tuesday, April 30th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.53 by $0.09. Laboratory Corp. of America had a net margin of 8.59% and a return on equity of 16.59%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the business earned $2.78 earnings per share. Laboratory Corp. of America’s quarterly revenue was down 2.0% on a year-over-year basis. Research analysts predict that Laboratory Corp. of America will post 11.27 EPS for the current year.

In other Laboratory Corp. of America news, CFO Glenn A. Eisenberg sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $167.40, for a total value of $1,674,000.00. Following the completion of the sale, the chief financial officer now owns 28,366 shares of the company’s stock, valued at $4,748,468.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert E. Mittelstaedt, Jr. sold 3,700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $166.30, for a total transaction of $615,310.00. Following the completion of the sale, the director now directly owns 18,909 shares of the company’s stock, valued at approximately $3,144,566.70. The disclosure for this sale can be found here. Insiders sold 21,300 shares of company stock worth $3,553,410 over the last 90 days. 0.74% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of LH. Norges Bank bought a new stake in Laboratory Corp. of America in the fourth quarter valued at approximately $120,695,000. FMR LLC increased its position in shares of Laboratory Corp. of America by 81.4% during the first quarter. FMR LLC now owns 1,596,659 shares of the medical research company’s stock worth $244,257,000 after acquiring an additional 716,703 shares in the last quarter. BlackRock Inc. increased its position in shares of Laboratory Corp. of America by 6.9% during the fourth quarter. BlackRock Inc. now owns 9,772,113 shares of the medical research company’s stock worth $1,234,806,000 after acquiring an additional 633,105 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of Laboratory Corp. of America by 559.8% during the fourth quarter. Brandes Investment Partners LP now owns 345,870 shares of the medical research company’s stock worth $43,703,000 after acquiring an additional 293,453 shares in the last quarter. Finally, Fairview Capital Investment Management LLC bought a new stake in shares of Laboratory Corp. of America during the first quarter worth $34,081,000. 91.45% of the stock is 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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Analyst Recommendations for Laboratory Corp. of America (NYSE:LH)

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