Laboratory Corp. of America Holdings (LH) Announces Quarterly Earnings, Hits Estimates
Laboratory Corp. of America Holdings (NYSE:LH) posted its quarterly earnings results on Friday. The company reported $1.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.80, American Banking News reports. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company posted $1.76 earnings per share.
Laboratory Corp. of America Holdings (NYSE:LH) opened at 102.55 on Friday. Laboratory Corp. of America Holdings has a 52 week low of $82.15 and a 52 week high of $102.65. The stock has a 50-day moving average of $99.3 and a 200-day moving average of $97.59. The company has a market cap of $9.240 billion and a P/E ratio of 17.17.
A number of research firms have recently commented on LH. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Laboratory Corp. of America Holdings from $91.00 to $98.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. On the ratings front, analysts at Cantor Fitzgerald initiated coverage on shares of Laboratory Corp. of America Holdings in a research note to investors on Thursday, September 12th. They set a “buy” rating and a $100.05 price target on the stock. Finally, analysts at Craig Hallum initiated coverage on shares of Laboratory Corp. of America Holdings in a research note to investors on Wednesday, August 28th. They set a “buy” rating on the stock. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Laboratory Corp. of America Holdings presently has an average rating of “Hold” and an average target price of $100.62.
Laboratory Corporation of America Holdings is a clinical laboratory company in the United States. Through a national network of laboratories, the Company offers a range of testing services used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease.
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