Analysts expect Laboratory Corporation of America Holdings (NYSE:LH) to report $2.39 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Laboratory Corporation of America Holdings’ earnings, with the highest EPS estimate coming in at $2.49 and the lowest estimate coming in at $2.22. Laboratory Corporation of America Holdings posted earnings of $2.31 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.5%. The company is scheduled to issue its next quarterly earnings results on Wednesday, July 26th.

On average, analysts expect that Laboratory Corporation of America Holdings will report full-year earnings of $9.43 per share for the current financial year, with EPS estimates ranging from $9.35 to $9.50. For the next fiscal year, analysts anticipate that the firm will report earnings of $10.16 per share, with EPS estimates ranging from $9.80 to $10.27. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Laboratory Corporation of America Holdings.

Laboratory Corporation of America Holdings (NYSE:LH) last issued 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 Corporation of America Holdings had a net margin of 7.76% and a return on equity of 16.99%. The business 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 earned $2.02 EPS. The business’s revenue was up 4.9% on a year-over-year basis.

Several research analysts have recently issued reports on the stock. Barclays PLC raised their target price on shares of Laboratory Corporation of America Holdings from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, March 7th. Zacks Investment Research cut shares of Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. ValuEngine cut shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. BidaskClub upgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Credit Suisse Group restated a “buy” rating and issued a $146.00 target price on shares of Laboratory Corporation of America Holdings in a report on Sunday, May 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Laboratory Corporation of America Holdings presently has a consensus rating of “Buy” and a consensus price target of $155.75.

In other Laboratory Corporation of America Holdings news, Director Jean-Luc Belingard sold 992 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $142.19, for a total transaction of $141,052.48. Following the completion of the transaction, the director now owns 32,935 shares of the company’s stock, valued at $4,683,027.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lance Berberian sold 3,613 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $139.84, for a total value of $505,241.92. Following the transaction, the senior vice president now directly owns 5,789 shares of the company’s stock, valued at approximately $809,533.76. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in LH. BlackRock Inc. raised its position in shares of Laboratory Corporation 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 valued at $1,158,430,000 after buying an additional 7,856,297 shares in the last quarter. Glenview Capital Management LLC purchased a new position in shares of Laboratory Corporation of America Holdings during the fourth quarter valued at approximately $537,689,000. Norges Bank purchased a new position in shares of Laboratory Corporation of America Holdings during the fourth quarter valued at approximately $101,414,000. JPMorgan Chase & Co. raised its position in shares of Laboratory Corporation 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 valued at $97,139,000 after buying an additional 394,247 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Laboratory Corporation of America Holdings by 139.9% in the first quarter. Teachers Advisors LLC now owns 445,372 shares of the medical research company’s stock valued at $63,898,000 after buying an additional 259,709 shares in the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.

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Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded up 0.21% during mid-day trading on Monday, reaching $141.07. 320,981 shares of the company’s stock traded hands. The firm has a 50-day moving average of $140.42 and a 200 day moving average of $137.36. The company has a market cap of $14.43 billion, a P/E ratio of 19.38 and a beta of 0.99. Laboratory Corporation of America Holdings has a 12-month low of $119.51 and a 12-month high of $146.63.

About Laboratory Corporation of America Holdings

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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