Laboratory Corp. of America (NYSE:LH) had its price target hoisted by Citigroup from $161.00 to $184.00 in a research note issued to investors on Friday. The firm currently has a neutral rating on the medical research company’s stock.

A number of other equities research analysts also recently issued reports on LH. Wells Fargo & Co started coverage on shares of Laboratory Corp. of America in a research report on Thursday, October 12th. They issued an outperform rating and a $175.00 price objective for the company. SunTrust Banks reaffirmed a buy rating and issued a $190.00 price objective on shares of Laboratory Corp. of America in a research report on Thursday, October 12th. Robert W. Baird reaffirmed a hold rating and issued a $166.00 price objective on shares of Laboratory Corp. of America in a research report on Tuesday, October 17th. Jefferies Group reaffirmed a hold rating and issued a $170.00 price objective on shares of Laboratory Corp. of America in a research report on Friday, October 20th. Finally, Craig Hallum reaffirmed a buy rating and issued a $180.00 price objective (up from $175.00) on shares of Laboratory Corp. of America in a research report on Thursday, October 26th. Six equities research analysts have rated the stock with a hold rating, ten have assigned 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 $180.73.

Shares of Laboratory Corp. of America (NYSE LH) opened at $168.49 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.31 and a quick ratio of 1.20. Laboratory Corp. of America has a fifty-two week low of $134.10 and a fifty-two week high of $181.71. The firm has a market cap of $17,350.00, a PE ratio of 13.79, a P/E/G ratio of 1.47 and a beta of 0.92.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Tuesday, February 6th. The medical research company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.07. Laboratory Corp. of America had a net margin of 12.15% and a return on equity of 16.30%. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the business posted $2.15 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. analysts expect that Laboratory Corp. of America will post 11.53 earnings per share for the current fiscal year.

In other news, Director Adam H. Schechter sold 1,263 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $169.29, for a total transaction of $213,813.27. Following the completion of the transaction, the director now directly owns 7,297 shares of the company’s stock, valued at approximately $1,235,309.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation grew its position in shares of Laboratory Corp. of America by 7,444.4% during the 3rd quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after acquiring an additional 670 shares during the period. Weik Capital Management bought a new position in shares of Laboratory Corp. of America during the 4th quarter valued at approximately $200,000. Hourglass Capital LLC bought a new position in shares of Laboratory Corp. of America during the 4th quarter valued at approximately $207,000. Teacher Retirement System of Texas bought a new position in shares of Laboratory Corp. of America during the 3rd quarter valued at approximately $210,000. Finally, Calton & Associates Inc. bought a new position in shares of Laboratory Corp. of America during the 4th quarter valued at approximately $213,000. 91.70% of the stock is owned by hedge funds and other institutional investors.

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About Laboratory Corp. of America

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 Corp. of America (NYSE:LH)

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