Laboratory Corp. of America Holdings (NYSE: LH) had its price target increased by equities researchers at Mizuho from $132.00 to $145.00. The company currently has a rating of Neutral on the shares. A number of other analysts have commented on the stock in recent days, and the company has earned a consensus one-year price target of $150.97, higher than the opening price of $133.06, a difference of 11.21 percent. Laboratory Corp. of America Holdings stock has a 52-week high of $141.32.
U.S. stocks finished higher Thursday, near their intra-day highs.
The Dow Jones Industrial Average DJIA, +0.99% closed up 177.71 points, or 1%, at 18,212.48, led by a 3.4% surge in shares of Apple Inc. AAPL, +3.40%
All 30 of the Dow components finished in the green.
The S&P 500 index SPX, +1.01% wrapped up 21.49 points, or 1%, to 2,147.26, and all the large-cap gauge’s sectors ended higher, topped by a 1.7% rise in the tech sector and a 1.1% gain in health-care shares
Usually, after analysts publish an “initiating coverage” report on a stock, they will subsequently issue periodic updates.
Shares of Laboratory Corp. of America Holdings (NYSE: LH) opened at $133.06 yesterday and traded in a range between, $132.57 and $135.26, and last traded at $134.68, which represents a change of $ 1.69 over the previous closing price.
Laboratory Corp. of America Holdings (NYSE: LH) now has a market cap of 13.78B
The stocks average daily volume is 813,258 shares out of a total float 96,497,000 and some 631,321 shares crossed the trading desk yesterday, 85 percent lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are researching.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind Laboratory Corp. of America Holdings (NYSE: LH) now has a 50-day MA is $138.09 and 200-day MA is $127.85, and it has traded in a 52-week range between $97.79 – 141.32 and today’s last price is -4.70 percent off the 52 week high of $141.32.
Earnings growth is an important factor toresearch when buying stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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