Stocks of Laboratory Corporation of America Holdings (NYSE:LH) traded higher last session on Wall Street, down -0.94% to $237.11.
According to the data, Laboratory Corporation of America Holdings (NYSE:LH) has 16 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $304.00 and a low of $260.00, we find $290.00. Given the previous closing price of $239.35, this indicates a potential upside of 21.16 percent. LH stock price is now -3.33% away from the 50-day moving average and 0.08% away from the 200-day moving average. The market capitalization of the company currently stands at $20.99B.
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A total of 4 analysts have issued a hold rating and 11 have given it a buy rating. Brokers who have rated the stock have averaged $287.00 as their price target over the next twelve months.
With the price target reduced from $275 to $250, Citigroup Downgraded its rating from Buy to Neutral for Laboratory Corporation of America Holdings (NYSE: LH). , while ‘Morgan Stanley’ rates the stock as ‘Overweight’.
In other news, Kirchgraber Paul R, CEO, Covance Drug Development sold 8,000 shares of the company’s stock on Feb 21. The stock was sold for $2,004,675 at an average price of $250.58. Upon completion of the transaction, the CEO, Covance Drug Development now directly owns 9,069 shares in the company, valued at $2.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 14, EVP, President-Diagnostics Lab Schroeder Mark S sold 309 shares of the business’s stock. A total of $76,518 was realized by selling the stock at an average price of $247.63. This leaves the insider owning 6,687 shares of the company worth $1.59 million. Insiders disposed of 97,329 shares of company stock worth roughly $23.08 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LH stock. A new stake in Laboratory Corporation of America Holdings shares was purchased by CAMBIAR INVESTORS LLC during the first quarter worth $49,976,000. POINT72 ASSET MANAGEMENT, L.P. invested $49,858,000 in shares of LH during the first quarter. In the first quarter, THIRD POINT LLC acquired a new stake in Laboratory Corporation of America Holdings valued at approximately $45,985,000. WOODLINE PARTNERS LP acquired a new stake in LH for approximately $29,692,000. BALYASNY ASSET MANAGEMENT LLC purchased a new stake in LH valued at around $26,279,000 in the second quarter. In total, there are 1,316 active investors with 94.40% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $239.03 for Laboratory Corporation of America Holdings (NYSE: LH). During the past 12 months, Laboratory Corporation of America Holdings has had a low of $200.32 and a high of $281.22. As of last week, the company has a debt-to-equity ratio of 0.54, a current ratio of 1.50, and a quick ratio of 1.30. The fifty day moving average price for LH is $245.28 and a two-hundred day moving average price translates $236.92 for the stock.
The latest earnings results from Laboratory Corporation of America Holdings (NYSE: LH) was released for Dec, 2022. According to the Diagnostics & Research Company, earnings per share came in at $4.14, beating analysts’ expectations of $4.1 by 0.04. This compares to $5.77 EPS in the same period last year. The net profit margin was 8.60% and return on equity was 12.40% for LH. The company reported revenue of $3.67 billion for the quarter, compared to $4.06 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -9.42 percent. For the current quarter, analysts expect LH to generate $3.72B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/13/2023. Investors who held shares on 02/23/2023 were paid a $0.72 dividend. On an annualized basis, this represents a $2.88 dividend and a 1.21% percent yield. There was an ex-dividend date of 02/22/2023 for this dividend.
Laboratory Corporation of America Holdings(LH) Company Profile
Laboratory Corporation of America Holdings operates as a global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, PAP tests, hemoglobin A1C and vitamin D, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests. The company also provides specialty testing services comprising gene-based and esoteric testing; advanced tests target specific diseases, including anatomic pathology/oncology, cardiovascular disease, coagulation, diagnostic genetics, endocrinology, infectious disease, women’s health, pharmacogenetics, and parentage and donor testing; and occupational testing services, medical drug monitoring services, chronic disease programs, and kidney stone prevention tests. It provides online and mobile applications to enable patients to check test results; and online applications for managed care organizations and accountable care organizations. It offers end-to-end drug development, medical device, and companion diagnostic development solutions from early-stage research to clinical development and commercial market access. It serves managed care organizations, pharmaceutical, biotechnology, medical device and diagnostics companies, governmental agencies, physicians and other healthcare providers, hospitals and health systems, employers, patients and consumers, contract research organizations, and independent clinical laboratories. Laboratory Corporation of America Holdings has a collaboration agreement with Tigerlily Foundation to increase clinical trial diversity for women of color. The company was incorporated in 1994 and is headquartered in Burlington, North Carolina.
