Argus began coverage on shares of Laboratory Corp. of America (NYSE:LH) in a research report report published on Friday morning. The brokerage issued a buy rating and a $202.00 price objective on the medical research company’s stock.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Laboratory Corp. of America from a hold rating to a sell rating in a report on Wednesday, January 3rd. Mizuho set a $178.00 price target on Laboratory Corp. of America and gave the company a hold rating in a report on Wednesday, January 24th. Barclays increased their price target on Laboratory Corp. of America from $195.00 to $210.00 and gave the company an overweight rating in a report on Monday, February 26th. They noted that the move was a valuation call. Jefferies Group set a $167.00 price target on Laboratory Corp. of America and gave the company a hold rating in a report on Friday, November 24th. Finally, ValuEngine upgraded Laboratory Corp. of America from a hold rating to a buy rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Laboratory Corp. of America currently has an average rating of Buy and an average target price of $189.19.
Shares of Laboratory Corp. of America (NYSE LH) traded down $3.21 during trading on Friday, hitting $162.49. The company’s stock had a trading volume of 880,663 shares, compared to its average volume of 639,713. Laboratory Corp. of America has a fifty-two week low of $134.19 and a fifty-two week high of $181.71. The firm has a market capitalization of $16,884.83, a PE ratio of 13.31, a P/E/G ratio of 1.40 and a beta of 0.90. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.93.
In other news, CFO Glenn A. Eisenberg sold 8,400 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $167.36, for a total transaction of $1,405,824.00. Following the completion of the transaction, the chief financial officer now directly owns 15,931 shares in the company, valued at $2,666,212.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Adam H. Schechter sold 1,263 shares of the firm’s 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 transaction, the director now owns 7,297 shares of the company’s stock, valued at $1,235,309.13. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation boosted its position in shares of Laboratory Corp. of America by 7,444.4% during the third quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock worth $103,000 after buying an additional 670 shares during the period. Financial Gravity Companies Inc. acquired a new stake in shares of Laboratory Corp. of America in the fourth quarter valued at $182,000. Weik Capital Management acquired a new stake in shares of Laboratory Corp. of America in the fourth quarter valued at $200,000. Hourglass Capital LLC acquired a new stake in shares of Laboratory Corp. of America in the fourth quarter valued at $207,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Laboratory Corp. of America in the third quarter valued at $210,000. Institutional investors and hedge funds own 92.32% 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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