$2.53 Billion in Sales Expected for Laboratory Corporation of America Holdings (LH) This Quarter

Wall Street analysts predict that Laboratory Corporation of America Holdings (NYSE:LH) will post $2.53 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Laboratory Corporation of America Holdings’ earnings, with estimates ranging from $2.48 billion to $2.58 billion. Laboratory Corporation of America Holdings posted sales of $2.41 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The business is scheduled to issue its next quarterly earnings results on Wednesday, October 25th.

On average, analysts expect that Laboratory Corporation of America Holdings will report full-year sales of $2.53 billion for the current year, with estimates ranging from $9.86 billion to $10.15 billion. For the next fiscal year, analysts expect that the business will report sales of $10.70 billion per share, with estimates ranging from $10.27 billion to $11.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Laboratory Corporation of America Holdings.

Laboratory Corporation of America Holdings (NYSE:LH) last released its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.07. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. Laboratory Corporation of America Holdings’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 earnings per share.

LH has been the topic of several recent research reports. Credit Suisse Group reaffirmed a “buy” rating and set a $146.00 target price on shares of Laboratory Corporation of America Holdings in a research note on Sunday, May 28th. ValuEngine cut shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. BidaskClub cut shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Barclays PLC reaffirmed an “overweight” rating and set a $182.00 target price (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, July 17th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $179.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $162.82.

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Shares of Laboratory Corporation of America Holdings (LH) opened at 159.21 on Tuesday. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $164.22. The company’s 50-day moving average is $156.95 and its 200-day moving average is $147.27. The stock has a market cap of $16.21 billion, a P/E ratio of 22.30 and a beta of 0.94.

In other news, CEO David P. King sold 44,687 shares of Laboratory Corporation of America Holdings stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the transaction, the chief executive officer now owns 258,753 shares in the company, valued at approximately $40,587,995.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Glenn A. Eisenberg sold 5,968 shares of Laboratory Corporation of America Holdings stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.46, for a total value of $951,657.28. Following the transaction, the chief financial officer now owns 18,122 shares in the company, valued at approximately $2,889,734.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,968 shares of company stock worth $34,980,922. Insiders own 0.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of LH. Acrospire Investment Management LLC raised its holdings in Laboratory Corporation of America Holdings by 16.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after buying an additional 100 shares during the period. Sun Life Financial INC raised its holdings in Laboratory Corporation of America Holdings by 9,200.0% in the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after buying an additional 736 shares during the period. Parallel Advisors LLC raised its holdings in Laboratory Corporation of America Holdings by 377.7% in the 1st quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after buying an additional 997 shares during the period. IFP Advisors Inc raised its holdings in Laboratory Corporation of America Holdings by 83.9% in the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after buying an additional 523 shares during the period. Finally, Hourglass Capital LLC purchased a new stake in Laboratory Corporation of America Holdings in the 2nd quarter valued at about $200,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Laboratory Corporation of America Holdings 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).

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Earnings History and Estimates for Laboratory Corporation of America Holdings (NYSE:LH)

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