Brokerages expect Laboratory Corp. of America Holdings (NYSE:LH) to announce $2.85 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Laboratory Corp. of America’s earnings. The lowest EPS estimate is $2.81 and the highest is $2.88. Laboratory Corp. of America reported earnings per share of $2.74 in the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The business is scheduled to announce its next quarterly earnings results on Wednesday, October 23rd.
On average, analysts expect that Laboratory Corp. of America will report full-year earnings of $11.28 per share for the current fiscal year, with EPS estimates ranging from $11.20 to $11.35. For the next year, analysts anticipate that the company will report earnings of $12.12 per share, with EPS estimates ranging from $11.77 to $12.36. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Laboratory Corp. of America.
Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.03. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the company posted $2.98 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis.
LH has been the topic of several research analyst reports. Mizuho increased their price target on shares of Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Barclays set a $200.00 price objective on Laboratory Corp. of America and gave the company a “buy” rating in a report on Monday, July 15th. KeyCorp boosted their price objective on Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Zacks Investment Research upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Thursday, May 16th. Finally, Deutsche Bank raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and increased their target price for the stock from $180.00 to $220.00 in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Laboratory Corp. of America currently has a consensus rating of “Buy” and a consensus price target of $185.91.
Shares of LH traded up $1.64 during midday trading on Thursday, hitting $174.12. The company had a trading volume of 470,766 shares, compared to its average volume of 763,869. The company’s 50 day moving average price is $167.23 and its 200 day moving average price is $162.75. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.78 and a beta of 1.04. Laboratory Corp. of America has a 52 week low of $119.38 and a 52 week high of $178.44. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.
In other Laboratory Corp. of America news, insider Lisa J. Uthgenannt sold 2,466 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $168.59, for a total transaction of $415,742.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Glenn A. Eisenberg sold 5,563 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $176.75, for a total transaction of $983,260.25. Following the transaction, the chief financial officer now directly owns 17,059 shares in the company, valued at approximately $3,015,178.25. The disclosure for this sale can be found here. Insiders sold a total of 19,859 shares of company stock valued at $3,421,092 over the last three months. Corporate insiders own 0.74% of the company’s stock.
Large investors have recently modified their holdings of the company. ETF Managers Group LLC boosted its stake in Laboratory Corp. of America by 8.1% during the first quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock valued at $135,000 after buying an additional 66 shares in the last quarter. Squar Milner Financial Services LLC raised its holdings in shares of Laboratory Corp. of America by 6.4% in the 2nd quarter. Squar Milner Financial Services LLC now owns 1,090 shares of the medical research company’s stock worth $188,000 after purchasing an additional 66 shares in the last quarter. Hartford Investment Management Co. lifted its stake in Laboratory Corp. of America by 0.3% during the second quarter. Hartford Investment Management Co. now owns 20,629 shares of the medical research company’s stock valued at $3,567,000 after purchasing an additional 67 shares during the last quarter. Diversified Trust Co lifted its stake in Laboratory Corp. of America by 4.1% during the second quarter. Diversified Trust Co now owns 1,763 shares of the medical research company’s stock valued at $305,000 after purchasing an additional 70 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in Laboratory Corp. of America by 1.4% during the second quarter. Private Trust Co. NA now owns 5,172 shares of the medical research company’s stock worth $894,000 after buying an additional 72 shares in the last quarter. 91.17% of the stock is owned by institutional investors.
About Laboratory Corp. of America
Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.
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