Analysts Issue Forecasts for Laboratory Corp. of America Holdings’ FY2020 Earnings (LH)

Laboratory Corp. of America Holdings (NYSE:LH) – Research analysts at William Blair issued their FY2020 earnings per share estimates for shares of Laboratory Corp. of America in a note issued to investors on Thursday. William Blair analyst A. Murphy expects that the medical research company will earn $13.01 per share for the year.

Other research analysts have also issued reports about the company. Deutsche Bank lifted their target price on Laboratory Corp. of America from $170.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Craig Hallum reiterated a “buy” rating and issued a $180.00 target price (up from $175.00) on shares of Laboratory Corp. of America in a report on Thursday, October 26th. Barclays reiterated a “buy” rating and issued a $195.00 target price on shares of Laboratory Corp. of America in a report on Wednesday, December 13th. ValuEngine upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. Finally, Goldman Sachs Group started coverage on Laboratory Corp. of America in a report on Monday, January 29th. They issued a “buy” rating and a $205.00 target price for the company. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $180.73.

Laboratory Corp. of America (NYSE:LH) traded down $3.05 on Monday, hitting $174.74. The stock had a trading volume of 445,940 shares, compared to its average volume of 651,767. The stock has a market capitalization of $18,099.02, a price-to-earnings ratio of 14.45, a P/E/G ratio of 1.50 and a beta of 0.93. Laboratory Corp. of America has a 1-year low of $134.19 and a 1-year high of $181.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.20 and a current ratio of 1.31.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.38 by $0.07. Laboratory Corp. of America had a return on equity of 16.30% and a net margin of 12.15%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the business posted $2.15 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis.

In other Laboratory Corp. of America news, CFO Glenn A. Eisenberg sold 8,400 shares of Laboratory Corp. of America stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $167.36, for a total transaction of $1,405,824.00. Following the completion of the sale, the chief financial officer now directly owns 15,931 shares of the company’s stock, valued at approximately $2,666,212.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Adam H. Schechter sold 1,263 shares of Laboratory Corp. of America stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $169.29, for a total value of $213,813.27. Following the sale, the director now directly owns 7,297 shares of the company’s stock, valued at $1,235,309.13. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of LH. Zions Bancorporation increased its position in shares of Laboratory Corp. of America by 7,444.4% during the third quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock worth $103,000 after purchasing an additional 670 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Laboratory Corp. of America during the fourth quarter worth about $182,000. Weik Capital Management acquired a new stake in shares of Laboratory Corp. of America during the fourth quarter worth about $200,000. Hourglass Capital LLC acquired a new stake in shares of Laboratory Corp. of America during the fourth quarter worth about $207,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Laboratory Corp. of America during the third quarter worth about $210,000. Institutional investors and hedge funds own 90.41% of the company’s stock.

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Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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

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