Laboratory Corp. of America Holdings Forecasted to Post FY2019 Earnings of $11.26 Per Share (NYSE:LH)

Laboratory Corp. of America Holdings (NYSE:LH) – Research analysts at SunTrust Banks reduced their FY2019 EPS estimates for shares of Laboratory Corp. of America in a research note issued to investors on Thursday, October 24th. SunTrust Banks analyst D. Macdonald now anticipates that the medical research company will post earnings per share of $11.26 for the year, down from their prior estimate of $11.28. SunTrust Banks also issued estimates for Laboratory Corp. of America’s Q4 2019 earnings at $2.81 EPS, Q1 2020 earnings at $2.76 EPS, Q2 2020 earnings at $3.07 EPS, Q3 2020 earnings at $3.08 EPS, Q4 2020 earnings at $3.05 EPS and FY2020 earnings at $11.96 EPS.

A number of other equities research analysts also recently weighed in on the stock. Barclays set a $200.00 price target on shares of Laboratory Corp. of America and gave the company a “buy” rating in a research report on Monday, July 15th. UBS Group dropped their price target on shares of Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, October 21st. KeyCorp lifted their price target on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Morgan Stanley lifted their price target on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Bank of America upgraded shares of Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 price target for the company in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Laboratory Corp. of America has a consensus rating of “Hold” and a consensus price target of $184.90.

NYSE LH opened at $163.82 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93. Laboratory Corp. of America has a 1-year low of $119.38 and a 1-year high of $178.44. The company has a 50 day moving average of $168.48 and a 200-day moving average of $166.54. The company has a market cap of $16.05 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.84 and a beta of 1.03.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.85 by $0.05. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.91 billion. Laboratory Corp. of America had a net margin of 6.63% and a return on equity of 15.33%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $2.74 earnings per share.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealthfront Advisers LLC grew its stake in shares of Laboratory Corp. of America by 3.1% in the third quarter. Wealthfront Advisers LLC now owns 2,054 shares of the medical research company’s stock worth $345,000 after purchasing an additional 62 shares during the last quarter. DNB Asset Management AS grew its stake in shares of Laboratory Corp. of America by 0.6% in the third quarter. DNB Asset Management AS now owns 10,579 shares of the medical research company’s stock worth $1,777,000 after purchasing an additional 64 shares during the last quarter. Squar Milner Financial Services LLC grew its stake in shares of Laboratory Corp. of America by 6.4% in the second quarter. Squar Milner Financial Services LLC now owns 1,090 shares of the medical research company’s stock worth $188,000 after purchasing an additional 66 shares during the last quarter. Hartford Investment Management Co. grew its stake in shares of Laboratory Corp. of America by 0.3% in the second quarter. Hartford Investment Management Co. now owns 20,629 shares of the medical research company’s stock worth $3,567,000 after purchasing an additional 67 shares during the last quarter. Finally, Diversified Trust Co grew its stake in shares of Laboratory Corp. of America by 4.1% in the second quarter. Diversified Trust Co now owns 1,763 shares of the medical research company’s stock worth $305,000 after purchasing an additional 70 shares during the last quarter. 90.37% of the stock is currently owned by hedge funds and other institutional investors.

In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 2,600 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $171.85, for a total transaction of $446,810.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director R Sanders Williams sold 500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $162.91, for a total transaction of $81,455.00. Following the sale, the director now directly owns 6,886 shares in the company, valued at approximately $1,121,798.26. The disclosure for this sale can be found here. Insiders sold 11,468 shares of company stock worth $1,946,168 over the last three months. 0.74% of the stock is currently owned by insiders.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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