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

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Equities analysts predict that Laboratory Corp. of America Holdings (NYSE:LH) will report $2.85 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Laboratory Corp. of America’s earnings. The highest sales estimate is $2.87 billion and the lowest is $2.79 billion. Laboratory Corp. of America posted sales of $2.80 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.8%. The business is expected to announce its next quarterly earnings report on Tuesday, February 5th.

On average, analysts expect that Laboratory Corp. of America will report full year sales of $11.39 billion for the current fiscal year, with estimates ranging from $11.34 billion to $11.42 billion. For the next year, analysts expect that the company will post sales of $11.63 billion, with estimates ranging from $11.54 billion to $11.75 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.14). The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS.

A number of brokerages have commented on LH. Bank of America began coverage on Laboratory Corp. of America in a report on Friday, October 19th. They set a “buy” rating for the company. Mizuho reissued a “hold” rating and set a $189.00 target price on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Citigroup reduced their target price on Laboratory Corp. of America from $184.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Tuesday, November 13th. Finally, William Blair reissued an “outperform” rating on shares of Laboratory Corp. of America in a report on Wednesday, October 24th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $192.19.

In other news, Director Kerrii B. Anderson sold 3,700 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the completion of the sale, the director now directly owns 21,795 shares in the company, valued at $3,558,905.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of LH. Legacy Financial Advisors Inc. grew its position in Laboratory Corp. of America by 763.9% in the third quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock worth $108,000 after acquiring an additional 550 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in Laboratory Corp. of America by 7,033.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock worth $115,000 after acquiring an additional 633 shares during the period. Fort L.P. purchased a new position in shares of Laboratory Corp. of America during the second quarter worth $118,000. Rational Advisors LLC boosted its position in shares of Laboratory Corp. of America by 4,966.7% during the third quarter. Rational Advisors LLC now owns 760 shares of the medical research company’s stock worth $132,000 after buying an additional 745 shares during the period. Finally, Squar Milner Financial Services LLC purchased a new position in shares of Laboratory Corp. of America during the second quarter worth $150,000. Institutional investors own 92.10% of the company’s stock.

Shares of Laboratory Corp. of America stock traded down $0.70 during mid-day trading on Tuesday, reaching $161.00. 610,800 shares of the stock traded hands, compared to its average volume of 720,916. Laboratory Corp. of America has a fifty-two week low of $149.39 and a fifty-two week high of $190.35. The stock has a market capitalization of $16.58 billion, a P/E ratio of 16.77, a PEG ratio of 1.54 and a beta of 1.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44.

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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