Zacks: Analysts Expect Laboratory Corp. of America Holdings (LH) Will Post Earnings of $2.92 Per Share

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Equities analysts expect Laboratory Corp. of America Holdings (NYSE:LH) to report earnings per share of $2.92 for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Laboratory Corp. of America’s earnings, with the lowest EPS estimate coming in at $2.87 and the highest estimate coming in at $2.97. Laboratory Corp. of America posted earnings per share of $2.47 during the same quarter last year, which would indicate a positive year over year growth rate of 18.2%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, July 25th.

According to Zacks, analysts expect that Laboratory Corp. of America will report full-year earnings of $11.55 per share for the current year, with EPS estimates ranging from $11.46 to $11.68. For the next fiscal year, analysts anticipate that the firm will post earnings of $12.29 per share, with EPS estimates ranging from $12.05 to $12.50. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly 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. Laboratory Corp. of America had a net margin of 11.52% and a return on equity of 16.33%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the business posted $2.22 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year.

Several research analysts recently commented on the stock. ValuEngine lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Mizuho reiterated a “hold” rating on shares of Laboratory Corp. of America in a research note on Friday, May 25th. Deutsche Bank lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 price objective for the company. in a research note on Wednesday, June 27th. Argus assumed coverage on shares of Laboratory Corp. of America in a research note on Friday, March 23rd. They set a “buy” rating and a $202.00 price objective for the company. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $195.00 price objective (up previously from $192.00) on shares of Laboratory Corp. of America in a research note on Thursday, March 8th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Laboratory Corp. of America has an average rating of “Buy” and a consensus price target of $192.18.

Shares of NYSE LH traded up $0.72 during trading hours on Friday, hitting $181.51. 1,366 shares of the stock were exchanged, compared to its average volume of 704,113. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.91. The firm has a market cap of $18.33 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. Laboratory Corp. of America has a 12 month low of $146.68 and a 12 month high of $190.35.

In related news, insider Edward T. Dodson sold 13,000 shares of the stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $183.35, for a total transaction of $2,383,550.00. Following the sale, the insider now directly owns 22,113 shares of the company’s stock, valued at $4,054,418.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David P. King sold 49,966 shares of the stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $175.37, for a total transaction of $8,762,537.42. Following the sale, the chief executive officer now directly owns 271,635 shares in the company, valued at $47,636,629.95. The disclosure for this sale can be found here. Insiders have sold 129,043 shares of company stock worth $22,371,980 over the last three months. 0.73% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC raised its position in Laboratory Corp. of America by 7.6% during the fourth quarter. LPL Financial LLC now owns 4,081 shares of the medical research company’s stock worth $652,000 after acquiring an additional 290 shares during the period. Lido Advisors LLC raised its position in Laboratory Corp. of America by 12.3% during the fourth quarter. Lido Advisors LLC now owns 2,858 shares of the medical research company’s stock worth $455,000 after acquiring an additional 312 shares during the period. Atria Investments LLC raised its position in Laboratory Corp. of America by 12.7% during the first quarter. Atria Investments LLC now owns 2,956 shares of the medical research company’s stock worth $478,000 after acquiring an additional 333 shares during the period. IFM Investors Pty Ltd raised its position in Laboratory Corp. of America by 22.3% during the first quarter. IFM Investors Pty Ltd now owns 1,840 shares of the medical research company’s stock worth $298,000 after acquiring an additional 336 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Laboratory Corp. of America by 3.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,424 shares of the medical research company’s stock worth $1,823,000 after acquiring an additional 394 shares during the period. 92.35% 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.

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

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