SunTrust Banks Equities Analysts Reduce Earnings Estimates for Laboratory Corp. of America Holdings (LH)

Laboratory Corp. of America Holdings (NYSE:LH) – SunTrust Banks lowered their Q3 2019 EPS estimates for Laboratory Corp. of America in a research note issued on Wednesday, October 24th. SunTrust Banks analyst D. Macdonald now forecasts that the medical research company will post earnings per share of $2.96 for the quarter, down from their previous estimate of $3.09. SunTrust Banks currently has a “Buy” rating and a $220.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. Argus restated a “buy” rating on shares of Laboratory Corp. of America in a research note on Wednesday, August 22nd. Canaccord Genuity restated a “buy” rating and set a $200.00 target price on shares of Laboratory Corp. of America in a research note on Tuesday, July 24th. Morgan Stanley raised their target price on shares of Laboratory Corp. of America from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Craig Hallum decreased their target price on shares of Laboratory Corp. of America from $201.00 to $193.00 and set a “buy” rating on the stock in a research note on Wednesday, October 3rd. Finally, Bank of America initiated coverage on shares of Laboratory Corp. of America in a research note on Friday, October 19th. They set a “buy” rating on the stock. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $192.19.

NYSE LH opened at $158.42 on Monday. Laboratory Corp. of America has a 12 month low of $147.70 and a 12 month high of $190.35. The company has a market cap of $15.75 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.46 and a beta of 0.97. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 0.83.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the company earned $2.46 EPS. Laboratory Corp. of America’s revenue for the quarter was up 8.0% on a year-over-year basis.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Laboratory Corp. of America by 9.1% during the 2nd quarter. BlackRock Inc. now owns 8,711,292 shares of the medical research company’s stock valued at $1,563,937,000 after buying an additional 729,038 shares in the last quarter. Iridian Asset Management LLC CT grew its holdings in Laboratory Corp. of America by 4.0% during the 2nd quarter. Iridian Asset Management LLC CT now owns 1,758,908 shares of the medical research company’s stock valued at $315,777,000 after buying an additional 67,987 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in Laboratory Corp. of America by 113.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,700,776 shares of the medical research company’s stock valued at $305,341,000 after buying an additional 903,554 shares in the last quarter. Bessemer Group Inc. grew its holdings in Laboratory Corp. of America by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,113,356 shares of the medical research company’s stock valued at $199,880,000 after buying an additional 13,293 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Laboratory Corp. of America by 7.5% during the 2nd quarter. Jennison Associates LLC now owns 974,351 shares of the medical research company’s stock valued at $174,925,000 after buying an additional 67,926 shares in the last quarter. 92.27% of the stock is owned by institutional investors and hedge funds.

Laboratory Corp. of America Company Profile

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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