Laboratory Corporation of America Holdings [NYSE: LH] loss -3.91% or -10.74 points to close at $263.74 with a heavy trading volume of 1790114 shares. The company report on May 25, 2021 that Labcorp Study Suggests COVID-19 Antibodies Remain at Least 10 Months After Infection.
Study of More Than 39,000 People Also Investigated Impact of Age, Sex on Antibody Endurance.
Nearly 87% of naturally infected COVID-19 patients maintained antibodies to SARS-CoV-2 proteins for at least 10 months, according to a new Labcorp (NYSE: LH) analysis of specimens from 39,086 individuals.
It opened the trading session at $273.15, the shares rose to $274.48 and dropped to $263.00, the range by which the price of stock traded the whole day. The daily chart for LH points out that the company has recorded 31.87% gains over the past six months. However, it is still -69.44% lower than its most recent low trading price.
If we look at the average trading volume of 632.36K shares, LH reached to a volume of 1790114 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $299.15 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.
Argus 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 January 11, 2021. The new note on the price target was released on January 11, 2021, representing the official price target for Laboratory Corporation of America Holdings stock. On July 14, 2020, analysts increased their price target for LH shares from 194 to 220.
The Average True Range (ATR) for Laboratory Corporation of America Holdings is set at 5.30, with the Price to Sales ratio for LH stock in the period of the last 12 months amounting to 1.69. The Price to Book ratio for the last quarter was 2.59, with the Price to Cash per share for the same quarter was set at 19.29. Price to Free Cash Flow for LH in the course of the last twelve months was 9.51 with Quick ratio for the last quarter at 1.50.
Trading performance analysis for LH stock
Laboratory Corporation of America Holdings [LH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.78. With this latest performance, LH shares dropped by -0.80% in over the last four-week period, additionally plugging by 31.87% over the last 6 months – not to mention a rise of 48.99% 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 42.33, with the RSI for the last a single of trading hit 34.15, and the three-weeks RSI is set at 47.92 for Laboratory Corporation of America Holdings [LH]. The present Moving Average for the last 50 days of trading for this stock 263.07, while it was recorded at 272.65 for the last single week of trading, and 221.26 for the last 200 days.
Laboratory Corporation of America Holdings [LH]: A deeper dive into fundamental analysis
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 +21.24 and a Gross Margin at +33.46. Laboratory Corporation of America Holdings’s Net Margin is presently recorded at +11.13.
Return on Total Capital for LH is now 19.26, given the latest momentum, and Return on Invested Capital for the company is 10.52. Return on Equity for this stock inclined to 18.39, with Return on Assets sitting at 8.16. 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 72.19. Additionally, LH Total Debt to Total Capital is recorded at 41.92, with Total Debt to Total Assets ending up at 33.66. Long-Term Debt to Equity for the company is recorded at 66.04, with the Long-Term Debt to Total Capital now at 38.35.
Reflecting on the efficiency of the workforce at the company, Laboratory Corporation of America Holdings [LH] managed to generate an average of $21,493 per employee. Receivables Turnover for the company is 5.54 with a Total Asset Turnover recorded at a value of 0.73.Laboratory Corporation of America Holdings’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.70.
Laboratory Corporation of America Holdings [LH]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Laboratory Corporation of America Holdings posted 2.57/share EPS, while the average EPS was predicted by analysts to be reported at 0.99/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 159.60%. 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 -11.00%.
An analysis of insider ownership at Laboratory Corporation of America Holdings [LH]
There are presently around $24,397 million, or 94.30% of LH stock, in the hands of institutional investors. The top three institutional holders of LH stocks are: VANGUARD GROUP INC with ownership of 10,632,202, which is approximately 2.178% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 8,083,948 shares of the stock with an approximate value of $2.22 billion in LH stocks shares; and STATE STREET CORP, currently with $1.11 billion in LH stock with ownership of nearly -0.766% of the company’s market capitalization.
Positions in Laboratory Corporation of America Holdings stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 414 institutional holders increased their position in Laboratory Corporation of America Holdings [NYSE:LH] by around 8,104,735 shares. Additionally, 425 investors decreased positions by around 7,435,687 shares, while 170 investors held positions by with 73,345,403 shares. The mentioned changes placed institutional holdings at 88,885,825 shares, according to the latest SEC report filing. LH stock had 112 new institutional investments in for a total of 1,121,975 shares, while 86 institutional investors sold positions of 1,329,202 shares during the same period.