Laboratory Corp. of America (NYSE:LH)‘s stock had its “outperform” rating reaffirmed by research analysts at Credit Suisse Group in a research report issued on Thursday. They currently have a $195.00 price target on the medical research company’s stock, up from their prior price target of $192.00. Credit Suisse Group’s target price points to a potential upside of 10.95% from the stock’s previous close.
Other analysts also recently issued reports about the company. Mizuho set a $165.00 target price on Laboratory Corp. of America and gave the stock a “neutral” rating in a research report on Friday, December 1st. ValuEngine raised Laboratory Corp. of America from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. Craig Hallum reissued a “buy” rating and issued a $204.00 target price (up from $180.00) on shares of Laboratory Corp. of America in a research report on Wednesday, February 7th. Morgan Stanley raised their target price on Laboratory Corp. of America from $182.00 to $192.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, Zacks Investment Research downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $188.33.
Shares of Laboratory Corp. of America (NYSE:LH) opened at $175.75 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $17,608.32, a P/E ratio of 18.00, a P/E/G ratio of 1.46 and a beta of 0.90. Laboratory Corp. of America has a 52-week low of $134.19 and a 52-week high of $181.71.
In other news, Director Adam H. Schechter sold 1,263 shares of Laboratory Corp. of America stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $169.29, for a total value of $213,813.27. Following the completion of the transaction, the director now directly owns 7,297 shares in the company, valued at $1,235,309.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 8,400 shares of Laboratory Corp. of America stock in a transaction on Monday, February 12th. The shares were sold at an average price of $167.36, for a total value of $1,405,824.00. Following the completion of the transaction, the chief financial officer now owns 15,931 shares of the company’s stock, valued at $2,666,212.16. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in LH. Zions Bancorporation grew its position in shares of Laboratory Corp. of America by 7,444.4% in the third quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after purchasing an additional 670 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in Laboratory Corp. of America during the fourth quarter valued at $182,000. Weik Capital Management bought a new stake in Laboratory Corp. of America during the fourth quarter valued at $200,000. Hourglass Capital LLC bought a new stake in Laboratory Corp. of America during the fourth quarter valued at $207,000. Finally, Teacher Retirement System of Texas bought a new stake in Laboratory Corp. of America during the third quarter valued at $210,000. Institutional investors own 90.88% of the company’s stock.
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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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