Laboratory Corp. of America (NYSE:LH) Price Target Increased to $240.00 by Analysts at SunTrust Banks

Laboratory Corp. of America (NYSE:LH) had its target price boosted by SunTrust Banks from $220.00 to $240.00 in a report published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the medical research company’s stock. SunTrust Banks also issued estimates for Laboratory Corp. of America’s Q3 2020 earnings at $3.62 EPS, Q4 2020 earnings at $3.58 EPS, FY2020 earnings at $12.15 EPS and FY2021 earnings at $13.80 EPS.

LH has been the topic of several other reports. Barclays increased their price objective on shares of Laboratory Corp. of America from $188.00 to $195.00 and gave the company an overweight rating in a research report on Thursday, April 23rd. Deutsche Bank increased their price objective on shares of Laboratory Corp. of America from $210.00 to $230.00 and gave the company a buy rating in a research report on Wednesday. Bank of America raised shares of Laboratory Corp. of America from a neutral rating to a buy rating and increased their price objective for the company from $194.00 to $220.00 in a research report on Tuesday, July 14th. Citigroup increased their price objective on shares of Laboratory Corp. of America from $214.00 to $249.00 and gave the company a buy rating in a research report on Wednesday. Finally, UBS Group increased their price objective on shares of Laboratory Corp. of America from $209.00 to $218.00 and gave the company a buy rating in a research report on Tuesday, May 5th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $214.44.

NYSE LH opened at $192.92 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.07 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average price is $177.01 and its two-hundred day moving average price is $167.49. Laboratory Corp. of America has a 1 year low of $98.02 and a 1 year high of $206.74. The firm has a market capitalization of $18.75 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.38.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $2.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $1.79. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.44 billion. Laboratory Corp. of America had a net margin of 3.16% and a return on equity of 14.39%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.93 earnings per share. On average, research analysts anticipate that Laboratory Corp. of America will post 13.19 EPS for the current fiscal year.

In other Laboratory Corp. of America news, EVP Der Vaart Sandra D. Van sold 435 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $170.00, for a total transaction of $73,950.00. Following the sale, the executive vice president now directly owns 4,044 shares in the company, valued at $687,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Sanders Williams sold 1,300 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $173.12, for a total transaction of $225,056.00. Following the sale, the director now owns 6,395 shares in the company, valued at $1,107,102.40. The disclosure for this sale can be found here. Insiders have sold 2,607 shares of company stock worth $438,814 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. National Asset Management Inc. boosted its stake in shares of Laboratory Corp. of America by 100.7% in the 2nd quarter. National Asset Management Inc. now owns 5,412 shares of the medical research company’s stock valued at $901,000 after purchasing an additional 2,716 shares in the last quarter. Comerica Bank boosted its stake in shares of Laboratory Corp. of America by 2.5% in the 2nd quarter. Comerica Bank now owns 24,130 shares of the medical research company’s stock valued at $4,828,000 after purchasing an additional 596 shares in the last quarter. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Laboratory Corp. of America in the 2nd quarter valued at approximately $42,000. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in shares of Laboratory Corp. of America by 10.6% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 35,547 shares of the medical research company’s stock valued at $5,905,000 after purchasing an additional 3,405 shares in the last quarter. Finally, Ingalls & Snyder LLC acquired a new stake in shares of Laboratory Corp. of America in the 2nd quarter valued at approximately $218,000. Hedge funds and other institutional investors own 88.80% of the company’s stock.

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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