Robert W. Baird Reaffirms “Hold” Rating for Laboratory Corporation of America Holdings (LH)

Laboratory Corporation of America Holdings (NYSE:LH)‘s stock had its “hold” rating restated by Robert W. Baird in a note issued to investors on Sunday.

Several other equities research analysts have also issued reports on the stock. Jefferies Group LLC restated a “hold” rating and set a $170.00 price target (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Wednesday. Canaccord Genuity restated a “buy” rating and set a $180.00 price target (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, September 11th. ValuEngine upgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Morgan Stanley raised their price target on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Finally, Barclays PLC raised their price target on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Laboratory Corporation of America Holdings presently has a consensus rating of “Buy” and a consensus target price of $164.00.

Laboratory Corporation of America Holdings (NYSE LH) opened at 153.60 on Friday. The stock has a 50 day moving average price of $156.60 and a 200 day moving average price of $147.65. The firm has a market cap of $15.64 billion, a P/E ratio of 21.51 and a beta of 0.94. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the business posted $2.36 EPS. Laboratory Corporation of America Holdings’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that Laboratory Corporation of America Holdings will post $9.54 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by Equities Focus and is the property of of Equities Focus. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.equitiesfocus.com/2017/09/17/robert-w-baird-reaffirms-hold-rating-for-laboratory-corporation-of-america-holdings-lh.html.

In other news, insider F Samuel Eberts III sold 31,500 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $155.22, for a total transaction of $4,889,430.00. Following the completion of the transaction, the insider now directly owns 31,894 shares in the company, valued at approximately $4,950,586.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Insiders sold a total of 222,968 shares of company stock valued at $34,980,922 over the last quarter. 0.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC grew its position in shares of Laboratory Corporation of America Holdings by 16.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 100 shares in the last quarter. Sun Life Financial INC grew its position in shares of Laboratory Corporation of America Holdings by 9,200.0% during the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 736 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Laboratory Corporation of America Holdings by 377.7% during the 1st quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 997 shares in the last quarter. IFP Advisors Inc grew its position in shares of Laboratory Corporation of America Holdings by 83.9% during the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 523 shares in the last quarter. Finally, Hourglass Capital LLC purchased a new position in shares of Laboratory Corporation of America Holdings during the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Laboratory Corporation of America Holdings 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).

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

Receive News & Ratings for Laboratory Corporation of America Holdings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corporation of America Holdings and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply