Laboratory Corporation of America Holdings (NYSE:LH) – Research analysts at KeyCorp issued their FY2017 EPS estimates for Laboratory Corporation of America Holdings in a report issued on Wednesday. KeyCorp analyst D. Hooker forecasts that the medical research company will post earnings of $9.54 per share for the year. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Laboratory Corporation of America Holdings’ Q4 2017 earnings at $2.36 EPS.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.25 earnings per share. TRADEMARK VIOLATION WARNING: This piece was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/30/brokers-issue-forecasts-for-laboratory-corporation-of-america-holdings-fy2017-earnings-lh.html.

Several other research firms have also commented on LH. Craig Hallum reiterated a “buy” rating and set a $179.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. Robert W. Baird reiterated a “hold” rating and set a $166.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Tuesday, October 17th. Wells Fargo & Company started coverage on shares of Laboratory Corporation of America Holdings in a research note on Thursday, October 12th. They set an “outperform” rating and a $175.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, October 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $169.00.

Shares of Laboratory Corporation of America Holdings (LH) opened at 155.40 on Monday. The company’s 50 day moving average is $152.21 and its 200 day moving average is $149.42. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22. The company has a market cap of $15.82 billion, a P/E ratio of 21.76 and a beta of 0.92.

In other news, CEO David P. King sold 44,687 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $156.86, for a total value of $7,009,602.82. Following the sale, the chief executive officer now owns 258,753 shares in the company, valued at $40,587,995.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David P. King sold 132,713 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $157.06, for a total transaction of $20,843,903.78. The disclosure for this sale can be found here. Insiders sold 222,968 shares of company stock worth $34,980,922 in the last quarter. Company insiders own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in LH. Janus Henderson Group PLC boosted its holdings in Laboratory Corporation of America Holdings by 5,992.1% during the second quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock worth $137,128,000 after buying an additional 875,028 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Laboratory Corporation of America Holdings by 1,337.1% during the second quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock worth $130,885,000 after buying an additional 800,902 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Laboratory Corporation of America Holdings by 70.5% during the second quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock worth $237,857,000 after buying an additional 637,848 shares in the last quarter. Empyrean Capital Partners LP purchased a new stake in Laboratory Corporation of America Holdings during the second quarter worth $92,484,000. Finally, Bessemer Group Inc. boosted its holdings in Laboratory Corporation of America Holdings by 43.6% during the second quarter. Bessemer Group Inc. now owns 1,288,017 shares of the medical research company’s stock worth $198,535,000 after buying an additional 391,145 shares in the last quarter. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Corporation 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).

Earnings History and Estimates for Laboratory Corporation of America Holdings (NYSE:LH)

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