Is Major Move Coming For Laboratory Corporation of America Holdings (LH) After This Bullish Double Top Chart Pattern?

May 23, 2018 - By Tina Thibodeau

Laboratory Corporation of America Holdings (NYSE:LH) Logo

Investors sentiment increased to 1.2 in Q4 2017. Its up 0.30, from 0.9 in 2017Q3. It improved, as 36 investors sold Laboratory Corporation of America Holdings shares while 209 reduced holdings. 73 funds opened positions while 220 raised stakes. 91.47 million shares or 0.35% less from 91.79 million shares in 2017Q3 were reported.
Cwm Llc, Nebraska-based fund reported 227 shares. Douglass Winthrop Advsrs Lc accumulated 3,610 shares or 0.03% of the stock. The Massachusetts-based Cubic Asset Ltd Company has invested 0.26% in Laboratory Corporation of America Holdings (NYSE:LH). Commerzbank Aktiengesellschaft Fi has 1,413 shares. Pictet Asset Ltd reported 59,290 shares. Balyasny Asset Mngmt reported 97,820 shares. Marsico Capital Limited Liability Company reported 36,669 shares stake. Lenox Wealth holds 0% or 16 shares in its portfolio. First Republic Inc accumulated 12,165 shares. Arrowstreet Capital Lp reported 96,400 shares. Utd Automobile Association holds 0.02% in Laboratory Corporation of America Holdings (NYSE:LH) or 42,165 shares. Public Sector Pension Board invested 0.01% of its portfolio in Laboratory Corporation of America Holdings (NYSE:LH). Evermay Wealth Management Lc accumulated 0.33% or 5,676 shares. Dnb Asset As invested in 0.02% or 11,474 shares. Mutual Of America Management Ltd Company holds 12,622 shares.

Since February 7, 2018, it had 0 buys, and 5 insider sales for $18.70 million activity. The insider ANDERSON KERRII B sold 3,300 shares worth $548,124. EISENBERG GLENN A sold $1.41M worth of stock or 8,400 shares. The insider Schechter Adam H sold 1,263 shares worth $213,813.

The chart of Laboratory Corporation of America Holdings (LH) shows a double top with $189.00 target or 8.00 % above today’s $175.00 share price. The 5 months chart pattern indicates low risk for the $17.90B company. It was reported on May, 23 by Finviz.com. If the $189.00 price target is reached, the company will be worth $1.43 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 0.95% or $1.67 during the last trading session, reaching $175. About 370,813 shares traded. Laboratory Corporation of America Holdings (NYSE:LH) has risen 14.17% since May 23, 2017 and is uptrending. It has outperformed by 2.62% the S&P500.

Analysts await Laboratory Corporation of America Holdings (NYSE:LH) to report earnings on July, 25. They expect $2.91 earnings per share, up 17.81 % or $0.44 from last year’s $2.47 per share. LH’s profit will be $297.68 million for 15.03 P/E if the $2.91 EPS becomes a reality. After $2.78 actual earnings per share reported by Laboratory Corporation of America Holdings for the previous quarter, Wall Street now forecasts 4.68 % EPS growth.

Laboratory Corporation of America Holdings (NYSE:LH) Ratings Coverage

Among 14 analysts covering Laboratory Corp (NYSE:LH), 11 have Buy rating, 0 Sell and 3 Hold. Therefore 79% are positive. Laboratory Corp had 22 analyst reports since November 24, 2017 according to SRatingsIntel. The rating was maintained by Canaccord Genuity with “Buy” on Wednesday, January 3. The firm earned “Outperform” rating on Thursday, March 8 by Credit Suisse. Craig Hallum maintained the stock with “Buy” rating in Wednesday, February 7 report. Citigroup maintained Laboratory Corporation of America Holdings (NYSE:LH) rating on Friday, February 9. Citigroup has “Neutral” rating and $184 target. The stock of Laboratory Corporation of America Holdings (NYSE:LH) has “Buy” rating given on Monday, January 29 by Goldman Sachs. Credit Suisse downgraded Laboratory Corporation of America Holdings (NYSE:LH) rating on Monday, December 11. Credit Suisse has “Hold” rating and $170.0 target. The stock of Laboratory Corporation of America Holdings (NYSE:LH) has “Hold” rating given on Tuesday, March 6 by Jefferies. The company was maintained on Thursday, March 1 by Credit Suisse. Mizuho maintained the stock with “Hold” rating in Tuesday, February 6 report. The rating was maintained by Barclays Capital on Monday, February 26 with “Overweight”.

More news for Laboratory Corporation of America Holdings (NYSE:LH) were recently published by: Benzinga.com, which released: “Lab Stocks: Baird Favors Laboratory Corp., Says Quest Diagnostics Is The Simple Choice” on May 01, 2018. Seekingalpha.com‘s article titled: “Laboratory of America Holdings (LH) Q1 2018 Results – Earnings Call Transcript” and published on April 25, 2018 is yet another important article.

Laboratory Corporation of America Holdings operates as an independent clinical laboratory firm worldwide. The company has market cap of $17.90 billion. It operates through two divisions, LabCorp Diagnostics and Covance Drug Development. It has a 14.33 P/E ratio. The firm offers a range of clinical laboratory tests and procedures, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, PSA, tests for sexually-transmitted diseases, HCV tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

Laboratory Corporation of America Holdings (NYSE:LH) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: