Brokerages Expect Laboratory Corp. of America Holdings (LH) Will Announce Quarterly Sales of $2.85 Billion

Share on StockTwits

Equities analysts expect Laboratory Corp. of America Holdings (NYSE:LH) to post sales of $2.85 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Laboratory Corp. of America’s earnings. The highest sales estimate is $2.89 billion and the lowest is $2.80 billion. Laboratory Corp. of America reported sales of $2.54 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The company is expected to announce its next quarterly earnings results on Wednesday, July 25th.

On average, analysts expect that Laboratory Corp. of America will report full-year sales of $11.47 billion for the current financial year, with estimates ranging from $11.41 billion to $11.51 billion. For the next financial year, analysts anticipate that the firm will report sales of $11.92 billion per share, with estimates ranging from $11.78 billion to $12.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Wednesday, April 25th. The medical research company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.63 by $0.15. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.77 billion. Laboratory Corp. of America had a return on equity of 16.33% and a net margin of 11.52%. The company’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the business posted $2.22 EPS.

Several analysts recently issued reports on the company. Robert W. Baird raised Laboratory Corp. of America from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $183.00 to $203.00 in a report on Tuesday, May 1st. ValuEngine upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. Barclays boosted their price target on Laboratory Corp. of America from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. They noted that the move was a valuation call. Credit Suisse Group restated an “outperform” rating and set a $195.00 price target (up from $192.00) on shares of Laboratory Corp. of America in a research note on Thursday, March 8th. Finally, Canaccord Genuity boosted their price target on Laboratory Corp. of America from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Laboratory Corp. of America has an average rating of “Buy” and a consensus price target of $192.18.

Shares of Laboratory Corp. of America traded up $1.55, hitting $189.13, during mid-day trading on Thursday, according to Marketbeat. The company had a trading volume of 666,920 shares, compared to its average volume of 743,644. The company has a market cap of $19.11 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.64 and a beta of 0.93. Laboratory Corp. of America has a 12 month low of $146.68 and a 12 month high of $190.35. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.91.

In other Laboratory Corp. of America news, CEO M. Huff Gary sold 1,610 shares of the company’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $182.50, for a total transaction of $293,825.00. Following the transaction, the chief executive officer now owns 1,610 shares of the company’s stock, valued at approximately $293,825. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David P. King sold 49,967 shares of the company’s stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $166.12, for a total value of $8,300,518.04. Following the transaction, the chief executive officer now directly owns 271,636 shares in the company, valued at approximately $45,124,172.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,043 shares of company stock worth $22,371,980. Corporate insiders own 0.73% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Banco de Sabadell S.A acquired a new position in shares of Laboratory Corp. of America in the 4th quarter valued at $2,271,000. Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Laboratory Corp. of America in the 4th quarter valued at $2,208,000. Renaissance Technologies LLC lifted its stake in shares of Laboratory Corp. of America by 19.9% in the 4th quarter. Renaissance Technologies LLC now owns 750,099 shares of the medical research company’s stock valued at $119,648,000 after purchasing an additional 124,294 shares during the period. BRYN MAWR TRUST Co lifted its stake in shares of Laboratory Corp. of America by 2.1% in the 4th quarter. BRYN MAWR TRUST Co now owns 31,842 shares of the medical research company’s stock valued at $5,079,000 after purchasing an additional 665 shares during the period. Finally, Lazard Asset Management LLC raised its stake in Laboratory Corp. of America by 0.3% during the 4th quarter. Lazard Asset Management LLC now owns 220,458 shares of the medical research company’s stock worth $35,165,000 after buying an additional 618 shares during the period. 92.16% of the stock is currently owned by hedge funds and other institutional investors.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C 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.

Get a free copy of the Zacks research report on Laboratory Corp. of America (LH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply