Friday, November 27, 2020

BofA Securities slashes price target on Laboratory Corporation of America Holdings [LH] – find out why.

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Laboratory Corporation of America Holdings [NYSE: LH] jumped around 4.53 points on Tuesday, while shares priced at $206.49 at the close of the session, up 2.24%. The company report on October 27, 2020 that LabCorp Announces 2020 Third Quarter Results.

Q3 revenue of $3.9 billion, up from $2.9 billion last year.


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Q3 diluted EPS of $7.17, up from $2.25 last year; Q3 adjusted EPS of $8.41, up from $2.90 last year.

Laboratory Corporation of America Holdings stock is now 22.06% up from its year-to-date (YTD) trading value. LH Stock saw the intraday high of $212.47 and lowest of $201.93 per share. The company’s 52-week high price is 211.21, which means current price is +110.66% above from all time high which was touched on 10/27/20.

Compared to the average trading volume of 708.15K shares, LH reached a trading volume of 1126385 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Laboratory Corporation of America Holdings [LH]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LH shares is $232.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LH stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Laboratory Corporation of America Holdings shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 14, 2020. The new note on the price target was released on July 13, 2020, representing the official price target for Laboratory Corporation of America Holdings stock. Previously, the target price had yet another raise to $210, while Deutsche Bank analysts kept a Buy rating on LH stock. On May 15, 2020, analysts increased their price target for LH shares from 158 to 186.

The Average True Range (ATR) for Laboratory Corporation of America Holdings is set at 5.46, with the Price to Sales ratio for LH stock in the period of the last 12 months amounting to 1.73. The Price to Book ratio for the last quarter was 2.73, with the Price to Cash per share for the same quarter was set at 5.78. Price to Free Cash Flow for LH in the course of the last twelve months was 16.95 with Quick ratio for the last quarter at 1.00.

How has LH stock performed recently?

Laboratory Corporation of America Holdings [LH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.62. With this latest performance, LH shares gained by 12.18% in over the last four-week period, additionally plugging by 19.03% over the last 6 months – not to mention a rise of 26.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LH stock in for the last two-week period is set at 67.34, with the RSI for the last a single of trading hit 67.11, and the three-weeks RSI is set at 64.75 for Laboratory Corporation of America Holdings [LH]. The present Moving Average for the last 50 days of trading for this stock 186.82, while it was recorded at 204.87 for the last single week of trading, and 173.58 for the last 200 days.

Laboratory Corporation of America Holdings [LH]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Laboratory Corporation of America Holdings [LH] shares currently have an operating margin of +12.46 and a Gross Margin at +26.04. Laboratory Corporation of America Holdings’s Net Margin is presently recorded at +7.13.

Return on Total Capital for LH is now 10.38, given the latest momentum, and Return on Invested Capital for the company is 6.09. Return on Equity for this stock inclined to 11.33, with Return on Assets sitting at 4.81. When it comes to the capital structure of this company, Laboratory Corporation of America Holdings [LH] has a Total Debt to Total Equity ratio set at 93.93. Additionally, LH Total Debt to Total Capital is recorded at 48.43, with Total Debt to Total Assets ending up at 39.39. Long-Term Debt to Equity for the company is recorded at 85.60, with the Long-Term Debt to Total Capital now at 44.14.

Reflecting on the efficiency of the workforce at the company, Laboratory Corporation of America Holdings [LH] managed to generate an average of $12,674 per employee. Receivables Turnover for the company is 5.94 with a Total Asset Turnover recorded at a value of 0.68.Laboratory Corporation of America Holdings’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.10.

Earnings analysis for Laboratory Corporation of America Holdings [LH]

With the latest financial reports released by the company, Laboratory Corporation of America Holdings posted 2.9/share EPS, while the average EPS was predicted by analysts to be reported at 2.85/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Laboratory Corporation of America Holdings go to 9.18%.

Insider trade positions for Laboratory Corporation of America Holdings [LH]

There are presently around $18,402 million, or 93.40% of LH stock, in the hands of institutional investors. The top three institutional holders of LH stocks are: VANGUARD GROUP INC with ownership of 10,867,212, which is approximately -2.494% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 7,948,868 shares of the stock with an approximate value of $1.64 billion in LH stocks shares; and STATE STREET CORP, currently with $864.74 million in LH stock with ownership of nearly -2.804% of the company’s market capitalization.

Positions in Laboratory Corporation of America Holdings stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 379 institutional holders increased their position in Laboratory Corporation of America Holdings [NYSE:LH] by around 10,374,365 shares. Additionally, 377 investors decreased positions by around 9,109,727 shares, while 126 investors held positions by with 69,633,873 shares. The mentioned changes placed institutional holdings at 89,117,965 shares, according to the latest SEC report filing. LH stock had 124 new institutional investments in for a total of 3,370,104 shares, while 78 institutional investors sold positions of 1,370,121 shares during the same period.

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