Laboratory Corp Gets a Buy Rating from SunTrust Robinson

By Austin Angelo

In a report issued on October 10, David S Macdonald from SunTrust Robinson reiterated a Buy rating on Laboratory Corp (NYSE: LH), with a price target of $190. The company’s shares opened today at $149.56.

According to TipRanks.com, Macdonald is a 1-star analyst with an average return of -0.1% and a 52.5% success rate. Macdonald covers the Services sector, focusing on stocks such as American Renal Associates Holdings Inc, Fresenius Medical Care Corp, and Walgreens Boots Alliance.

Currently, the analyst consensus on Laboratory Corp is Moderate Buy and the average price target is $176.10, representing a 17.7% upside.

In a report released today, Wells Fargo also upgraded the stock to Buy with a $175 price target.

Based on Laboratory Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $2.54 billion and quarterly net profit of $189 million. In comparison, last year the company earned revenue of $2.41 billion and had a net profit of $180 million.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2017, Samuel Eberts, the Chief Legal Officer, Secretary of LH sold 31,500 shares for a total of $4,889,430.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Laboratory Corp. of America Holdings operates as a clinical laboratory company, which engages in the provision of clinical laboratory and end-to-end drug development services. It operates through the LabCorp Diagnostics and Covance Drug Development segments. The LabCorp Diagnostics segment includes core testing as well as genomic and esoteric testing.