Wall Street brokerages expect Laboratory Corp. of America Holdings (NYSE:LH) to report earnings of $2.42 per share for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Laboratory Corp. of America Holdings’ earnings. The highest EPS estimate is $2.50 and the lowest is $2.26. Laboratory Corp. of America Holdings reported earnings of $2.31 per share in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The firm is expected to report its next quarterly earnings results on Wednesday, July 26th.

On average, analysts expect that Laboratory Corp. of America Holdings will report full-year earnings of $9.45 per share for the current financial year, with EPS estimates ranging from $9.35 to $9.58. For the next financial year, analysts anticipate that the firm will report earnings of $10.20 per share, with EPS estimates ranging from $9.97 to $10.62. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Laboratory Corp. of America Holdings.

Laboratory Corp. of America Holdings (NYSE:LH) last posted its quarterly earnings data on Tuesday, April 25th. The medical research company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.03. Laboratory Corp. of America Holdings had a net margin of 6.85% and a return on equity of 16.97%. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company posted $2.02 EPS. Laboratory Corp. of America Holdings’s revenue was up 4.9% on a year-over-year basis.

LH has been the topic of a number of research analyst reports. Robert W. Baird lowered shares of Laboratory Corp. of America Holdings from an “outperform” rating to a “neutral” rating and set a $138.00 target price on the stock. in a research report on Monday, February 6th. Zacks Investment Research lowered shares of Laboratory Corp. of America Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Barclays PLC raised their target price on shares of Laboratory Corp. of America Holdings from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, March 7th. Mizuho raised their target price on shares of Laboratory Corp. of America Holdings from $135.00 to $139.00 and gave the company a “neutral” rating in a research report on Friday, February 17th. Finally, Jefferies Group LLC cut their target price on shares of Laboratory Corp. of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Laboratory Corp. of America Holdings currently has a consensus rating of “Buy” and a consensus price target of $155.50.

Laboratory Corp. of America Holdings (NYSE:LH) traded up 0.84% on Wednesday, reaching $140.88. 275,573 shares of the company traded hands. The stock has a 50-day moving average of $141.45 and a 200 day moving average of $135.71. Laboratory Corp. of America Holdings has a 52-week low of $119.51 and a 52-week high of $146.63. The company has a market capitalization of $14.41 billion, a PE ratio of 19.35 and a beta of 0.94.

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In other news, Director Robert E. Mittelstaedt, Jr. sold 5,300 shares of Laboratory Corp. of America Holdings stock in a transaction on Friday, February 24th. The shares were sold at an average price of $142.69, for a total transaction of $756,257.00. Following the transaction, the director now owns 18,208 shares in the company, valued at $2,598,099.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Lance Berberian sold 3,613 shares of Laboratory Corp. of America Holdings stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total transaction of $505,241.92. Following the transaction, the senior vice president now owns 5,789 shares in the company, valued at approximately $809,533.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,205 shares of company stock worth $1,730,232. 1.14% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of LH. BlackRock Inc. raised its position in shares of Laboratory Corp. of America Holdings by 3,602.5% in the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after buying an additional 7,856,297 shares during the period. Glenview Capital Management LLC acquired a new position in shares of Laboratory Corp. of America Holdings during the fourth quarter worth approximately $537,689,000. Norges Bank acquired a new position in shares of Laboratory Corp. of America Holdings during the fourth quarter worth approximately $101,414,000. JPMorgan Chase & Co. raised its position in shares of Laboratory Corp. of America Holdings by 139.4% in the first quarter. JPMorgan Chase & Co. now owns 677,069 shares of the medical research company’s stock worth $97,139,000 after buying an additional 394,247 shares during the period. Finally, Boston Partners increased its position in shares of Laboratory Corp. of America Holdings by 10.0% in the third quarter. Boston Partners now owns 3,909,461 shares of the medical research company’s stock worth $537,473,000 after buying an additional 354,163 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Laboratory Corp. 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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