Laboratory Corp. of America Holdings (LH) Expected to Post Q1 2018 Earnings of $2.56 Per Share

Laboratory Corp. of America Holdings (NYSE:LH) – Stock analysts at SunTrust Banks raised their Q1 2018 EPS estimates for shares of Laboratory Corp. of America in a research note issued to investors on Tuesday. SunTrust Banks analyst D. Macdonald now anticipates that the medical research company will earn $2.56 per share for the quarter, up from their prior estimate of $2.37. SunTrust Banks also issued estimates for Laboratory Corp. of America’s Q2 2018 earnings at $2.98 EPS, Q3 2018 earnings at $2.99 EPS, Q4 2018 earnings at $3.07 EPS, FY2018 earnings at $11.60 EPS, Q1 2019 earnings at $2.76 EPS, Q2 2019 earnings at $3.22 EPS, Q3 2019 earnings at $3.23 EPS, Q4 2019 earnings at $3.28 EPS and FY2019 earnings at $12.50 EPS.

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Friday. Citigroup lifted their target price on shares of Laboratory Corp. of America from $161.00 to $184.00 and gave the stock a “neutral” rating in a research note on Friday. Robert W. Baird set a $183.00 price target on shares of Laboratory Corp. of America and gave the company a “hold” rating in a report on Thursday. Craig Hallum reiterated a “buy” rating and issued a $204.00 price target (up previously from $180.00) on shares of Laboratory Corp. of America in a report on Wednesday. Finally, ValuEngine upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $180.73.

Laboratory Corp. of America (LH) opened at $168.08 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.31 and a debt-to-equity ratio of 0.93. Laboratory Corp. of America has a one year low of $133.65 and a one year high of $181.71. The company has a market cap of $17,490.00, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.45 and a beta of 0.92.

Laboratory Corp. of America (NYSE:LH) last issued its 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 net margin of 12.15% and a return on equity of 16.30%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm earned $2.15 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in LH. Thrivent Financial For Lutherans boosted its holdings in shares of Laboratory Corp. of America by 11.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,200 shares of the medical research company’s stock valued at $647,000 after buying an additional 440 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Laboratory Corp. of America by 322.1% during the 2nd quarter. Macquarie Group Ltd. now owns 5,504 shares of the medical research company’s stock valued at $848,000 after buying an additional 4,200 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Laboratory Corp. of America by 97.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,182 shares of the medical research company’s stock valued at $490,000 after buying an additional 1,573 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Laboratory Corp. of America by 33.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,239 shares of the medical research company’s stock valued at $2,041,000 after buying an additional 3,339 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Laboratory Corp. of America by 63.8% during the 2nd quarter. Verition Fund Management LLC now owns 20,750 shares of the medical research company’s stock valued at $3,198,000 after buying an additional 8,081 shares in the last quarter. Hedge funds and other institutional investors own 90.87% of the company’s stock.

In related news, Director Adam H. Schechter sold 1,263 shares of Laboratory Corp. of America stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $169.29, for a total value of $213,813.27. Following the sale, the director now owns 7,297 shares in the company, valued at $1,235,309.13. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Laboratory Corp. of America Holdings (LH) Expected to Post Q1 2018 Earnings of $2.56 Per Share” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://sportsperspectives.com/2018/02/11/laboratory-corp-of-america-holdings-lh-expected-to-post-q1-2018-earnings-of-2-56-per-share.html.

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)

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.

Latest News

Leave a Reply