Laboratory Corporation of America Holdings (NYSE:LH) – Gabelli cut their FY2018 EPS estimates for Laboratory Corporation of America Holdings in a research note issued to investors on Wednesday. Gabelli analyst S. Wojda now forecasts that the medical research company will post earnings per share of $10.45 for the year, down from their prior forecast of $10.75. Gabelli also issued estimates for Laboratory Corporation of America Holdings’ FY2019 earnings at $11.45 EPS, FY2020 earnings at $12.45 EPS and FY2021 earnings at $13.55 EPS.

Several other research firms have also commented on LH. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Craig Hallum reiterated a “buy” rating and issued a $179.00 price objective (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Barclays PLC boosted their price objective on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $170.00 price objective (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Wednesday, September 13th. Finally, ValuEngine upgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Laboratory Corporation of America Holdings currently has an average rating of “Buy” and a consensus price target of $169.00.

COPYRIGHT VIOLATION WARNING: This news story was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/11/02/gabelli-weighs-in-on-laboratory-corporation-of-america-holdings-fy2018-earnings-lh.html.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.08. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.25 earnings per share.

In other news, CEO David P. King sold 132,713 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total transaction of $20,843,903.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 971 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $153.52, for a total transaction of $149,067.92. Following the transaction, the director now directly owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,971 shares of company stock worth $33,378,333. 0.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of LH. Janus Henderson Group PLC increased its stake in shares of Laboratory Corporation of America Holdings by 5,992.1% during the 2nd quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock valued at $137,128,000 after acquiring an additional 875,028 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Laboratory Corporation of America Holdings by 1,337.1% during the 2nd quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock valued at $130,885,000 after acquiring an additional 800,902 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Laboratory Corporation of America Holdings by 70.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock valued at $237,857,000 after acquiring an additional 637,848 shares during the last quarter. Empyrean Capital Partners LP acquired a new position in shares of Laboratory Corporation of America Holdings during the 2nd quarter valued at about $92,484,000. Finally, Bessemer Group Inc. increased its stake in shares of Laboratory Corporation of America Holdings by 43.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,288,017 shares of the medical research company’s stock valued at $198,535,000 after acquiring an additional 391,145 shares during the last quarter. 93.39% of the stock is owned by institutional investors.

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).

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

Receive News & Ratings for Laboratory Corporation of America Holdings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corporation of America Holdings and related companies with MarketBeat.com's FREE daily email newsletter.