Wells Fargo & Company Cuts Laboratory Co. of America (NYSE:LH) Price Target to $235.00

Laboratory Co. of America (NYSE:LHGet Rating) had its price objective cut by equities research analysts at Wells Fargo & Company from $290.00 to $235.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 12.48% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating and reduced their price target for the company from $330.00 to $294.00 in a research report on Friday, January 28th. Credit Suisse Group increased their price target on shares of Laboratory Co. of America from $340.00 to $344.00 and gave the company an “outperform” rating in a research report on Friday, February 11th. StockNews.com assumed coverage on shares of Laboratory Co. of America in a research report on Thursday, March 31st. They set a “buy” rating for the company. Zacks Investment Research lowered shares of Laboratory Co. of America from a “strong-buy” rating to a “hold” rating and set a $292.00 target price for the company. in a research report on Friday, February 4th. Finally, Citigroup increased their target price on shares of Laboratory Co. of America from $340.00 to $350.00 in a research report on Friday, February 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Buy” and a consensus target price of $314.62.

NYSE LH opened at $268.52 on Monday. Laboratory Co. of America has a 1 year low of $256.81 and a 1 year high of $317.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.92 and a quick ratio of 1.77. The firm has a market cap of $25.02 billion, a price-to-earnings ratio of 11.01 and a beta of 1.04. The company has a fifty day moving average price of $269.78 and a 200-day moving average price of $279.89.

Laboratory Co. of America (NYSE:LHGet Rating) last posted its quarterly earnings results on Thursday, February 10th. The medical research company reported $6.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.90 by $0.87. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.93 billion. Laboratory Co. of America had a net margin of 14.75% and a return on equity of 27.08%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.56 earnings per share. On average, research analysts anticipate that Laboratory Co. of America will post 19.42 EPS for the current fiscal year.

In other news, EVP Mark S. Schroeder sold 204 shares of the firm’s stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $277.38, for a total value of $56,585.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark S. Schroeder sold 161 shares of the firm’s stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $271.81, for a total transaction of $43,761.41. The disclosure for this sale can be found here. Insiders have sold 3,749 shares of company stock worth $1,031,367 over the last quarter. Company insiders own 0.31% of the company’s stock.

Institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Laboratory Co. of America by 261.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 10,238 shares of the medical research company’s stock worth $2,881,000 after purchasing an additional 7,404 shares during the last quarter. Polar Capital Holdings Plc boosted its holdings in Laboratory Co. of America by 1.6% in the third quarter. Polar Capital Holdings Plc now owns 30,930 shares of the medical research company’s stock valued at $8,705,000 after acquiring an additional 491 shares in the last quarter. Martingale Asset Management L P boosted its holdings in Laboratory Co. of America by 10.2% in the third quarter. Martingale Asset Management L P now owns 125,269 shares of the medical research company’s stock valued at $35,256,000 after acquiring an additional 11,610 shares in the last quarter. Atria Investments LLC boosted its holdings in Laboratory Co. of America by 3.0% in the fourth quarter. Atria Investments LLC now owns 5,302 shares of the medical research company’s stock valued at $1,666,000 after acquiring an additional 155 shares in the last quarter. Finally, Advisor Group Holdings Inc. boosted its holdings in Laboratory Co. of America by 37.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 53,042 shares of the medical research company’s stock valued at $16,567,000 after acquiring an additional 14,406 shares in the last quarter. Hedge funds and other institutional investors own 88.22% of the company’s stock.

About Laboratory Co. of America (Get Rating)

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. 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 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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