$2.93 Billion in Sales Expected for Laboratory Corp. of America Holdings (NYSE:LH) This Quarter

Equities research analysts expect Laboratory Corp. of America Holdings (NYSE:LH) to post sales of $2.93 billion for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Laboratory Corp. of America’s earnings, with the lowest sales estimate coming in at $2.90 billion and the highest estimate coming in at $2.95 billion. Laboratory Corp. of America posted sales of $2.79 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5%. The business is scheduled to report its next earnings report on Thursday, February 6th.

According to Zacks, analysts expect that Laboratory Corp. of America will report full year sales of $11.53 billion for the current year, with estimates ranging from $11.50 billion to $11.55 billion. For the next year, analysts expect that the business will post sales of $11.92 billion, with estimates ranging from $11.74 billion to $12.18 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.05. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.91 billion. Laboratory Corp. of America had a net margin of 6.63% and a return on equity of 15.33%. Laboratory Corp. of America’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.74 EPS.

A number of analysts have issued reports on LH shares. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price target on the stock in a report on Wednesday, October 9th. Morgan Stanley lifted their price target on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Canaccord Genuity reiterated a “hold” rating and issued a $170.00 price target on shares of Laboratory Corp. of America in a report on Thursday, October 24th. ValuEngine downgraded shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Finally, UBS Group reduced their price target on shares of Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Laboratory Corp. of America currently has a consensus rating of “Hold” and a consensus target price of $186.13.

In other Laboratory Corp. of America news, CEO David P. King sold 30,177 shares of Laboratory Corp. of America stock in a transaction on Monday, October 28th. The shares were sold at an average price of $165.40, for a total value of $4,991,275.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 2,600 shares of Laboratory Corp. of America stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $171.85, for a total transaction of $446,810.00. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

Large investors have recently modified their holdings of the business. Wetherby Asset Management Inc. boosted its stake in shares of Laboratory Corp. of America by 8.2% during the 2nd quarter. Wetherby Asset Management Inc. now owns 1,444 shares of the medical research company’s stock worth $249,000 after purchasing an additional 109 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Laboratory Corp. of America during the 2nd quarter worth about $32,000. Creative Planning boosted its stake in shares of Laboratory Corp. of America by 5.8% during the 2nd quarter. Creative Planning now owns 5,560 shares of the medical research company’s stock worth $961,000 after purchasing an additional 303 shares during the period. Advisor Partners LLC boosted its stake in shares of Laboratory Corp. of America by 12.9% during the 2nd quarter. Advisor Partners LLC now owns 2,421 shares of the medical research company’s stock worth $419,000 after purchasing an additional 276 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Laboratory Corp. of America by 777.2% during the 2nd quarter. SG Americas Securities LLC now owns 22,754 shares of the medical research company’s stock worth $3,934,000 after purchasing an additional 20,160 shares during the period. 90.40% of the stock is owned by institutional investors and hedge funds.

NYSE LH traded up $1.74 on Friday, reaching $169.16. The company had a trading volume of 474,690 shares, compared to its average volume of 708,008. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $16.42 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03. The firm’s 50 day moving average price is $168.94 and its 200 day moving average price is $168.80. Laboratory Corp. of America has a 12 month low of $119.38 and a 12 month high of $178.44.

Laboratory Corp. of America Company Profile

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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Earnings History and Estimates for Laboratory Corp. of America (NYSE:LH)

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