Laboratory Corporation of America Holdings (LH) Expected to Earn FY2017 Earnings of $9.54 Per Share

Laboratory Corporation of America Holdings (NYSE:LH) – Investment analysts at SunTrust Banks decreased their FY2017 earnings per share (EPS) estimates for shares of Laboratory Corporation of America in a report issued on Thursday. SunTrust Banks analyst D. Macdonald now expects that the medical research company will earn $9.54 per share for the year, down from their prior forecast of $9.56. SunTrust Banks currently has a “Buy” rating and a $190.00 target price on the stock. SunTrust Banks also issued estimates for Laboratory Corporation of America’s Q4 2017 earnings at $2.40 EPS, Q1 2018 earnings at $2.37 EPS, Q2 2018 earnings at $2.68 EPS, Q3 2018 earnings at $2.67 EPS, Q4 2018 earnings at $2.59 EPS, FY2018 earnings at $10.32 EPS, Q1 2019 earnings at $2.56 EPS, Q2 2019 earnings at $2.90 EPS, Q3 2019 earnings at $2.90 EPS and FY2019 earnings at $11.15 EPS.

Other equities research analysts have also issued research reports about the company. Mizuho set a $165.00 target price on Laboratory Corporation of America and gave the company a “neutral” rating in a research note on Friday. ValuEngine upgraded Laboratory Corporation of America from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Group set a $167.00 price objective on Laboratory Corporation of America and gave the company a “hold” rating in a research report on Friday, November 24th. Zacks Investment Research downgraded shares of Laboratory Corporation of America from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Finally, Robert W. Baird reiterated a “hold” rating and set a $150.00 price objective on shares of Laboratory Corporation of America in a research note on Friday, October 27th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Laboratory Corporation of America presently has an average rating of “Buy” and an average target price of $170.92.

Laboratory Corporation of America (NYSE:LH) traded down $1.28 during trading on Friday, hitting $156.99. The stock had a trading volume of 35,561 shares, compared to its average volume of 723,604. The firm has a market cap of $15,394.20, a PE ratio of 16.26, a P/E/G ratio of 1.60 and a beta of 0.87. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75. Laboratory Corporation of America has a 12 month low of $123.36 and a 12 month high of $164.22.

Laboratory Corporation of America (NYSE:LH) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Laboratory Corporation of America had a return on equity of 16.75% and a net margin of 7.40%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 EPS.

In other Laboratory Corporation of America news, Director Dwight Gary Gilliland sold 971 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $153.52, for a total value of $149,067.92. Following the sale, the director now directly owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David P. King sold 132,713 shares of the business’s 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. Over the last quarter, insiders sold 178,371 shares of company stock valued at $28,002,575. 0.90% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Zions Bancorporation lifted its stake in shares of Laboratory Corporation of America by 7,444.4% in the 3rd quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after acquiring an additional 670 shares during the last quarter. Acrospire Investment Management LLC increased its holdings in Laboratory Corporation of America by 16.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 100 shares during the period. Sun Life Financial INC increased its holdings in Laboratory Corporation of America by 9,200.0% during the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 736 shares during the period. IFP Advisors Inc grew its holdings in shares of Laboratory Corporation of America by 83.9% during the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock worth $177,000 after acquiring an additional 523 shares during the period. Finally, Hourglass Capital LLC purchased a new position in shares of Laboratory Corporation of America during the 2nd quarter worth approximately $200,000. Hedge funds and other institutional investors own 91.49% of the company’s stock.

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Laboratory Corporation of America 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 (NYSE:LH)

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