Brokerages forecast that Laboratory Corp. of America Holdings (NYSE:LH) will announce sales of $2.70 billion for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Laboratory Corp. of America’s earnings. The highest sales estimate is $2.75 billion and the lowest is $2.64 billion. Laboratory Corp. of America posted sales of $2.43 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 15th.

On average, analysts expect that Laboratory Corp. of America will report full year sales of $2.70 billion for the current year, with estimates ranging from $9.88 billion to $10.40 billion. For the next year, analysts forecast that the company will post sales of $11.04 billion per share, with estimates ranging from $10.74 billion to $11.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Laboratory Corp. of America.

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

LH has been the subject of a number of research analyst reports. Zacks Investment Research cut Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Wells Fargo & Co initiated coverage on Laboratory Corp. of America in a research note on Thursday, October 12th. They issued an “outperform” rating and a $175.00 price target for the company. Craig Hallum reiterated a “buy” rating and issued a $180.00 price target (up from $175.00) on shares of Laboratory Corp. of America in a research note on Thursday, October 26th. Jefferies Group reiterated a “hold” rating and issued a $170.00 price target on shares of Laboratory Corp. of America in a research note on Friday, October 20th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $150.00 price target on shares of Laboratory Corp. of America in a research note on Friday, October 27th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $171.69.

Shares of Laboratory Corp. of America (NYSE LH) opened at $172.65 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 1.18. Laboratory Corp. of America has a 12 month low of $128.00 and a 12 month high of $172.83. The company has a market capitalization of $17,407.80, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.63 and a beta of 0.87.

In other news, Director Dwight Gary Gilliland sold 971 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $153.52, for a total value of $149,067.92. Following the completion of the transaction, the director now directly owns 3,501 shares in the company, valued at $537,473.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Sentry Investment Management LLC raised its position in Laboratory Corp. of America by 1.0% during the second quarter. Sentry Investment Management LLC now owns 7,756 shares of the medical research company’s stock valued at $1,196,000 after acquiring an additional 78 shares in the last quarter. First Allied Advisory Services Inc. raised its position in Laboratory Corp. of America by 2.6% during the second quarter. First Allied Advisory Services Inc. now owns 3,033 shares of the medical research company’s stock valued at $462,000 after acquiring an additional 78 shares in the last quarter. Stonebridge Capital Advisors LLC raised its position in Laboratory Corp. of America by 0.5% during the second quarter. Stonebridge Capital Advisors LLC now owns 19,855 shares of the medical research company’s stock valued at $3,060,000 after acquiring an additional 100 shares in the last quarter. Acrospire Investment Management LLC raised its position in Laboratory Corp. of America by 16.5% during the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 100 shares in the last quarter. Finally, AXA raised its position in Laboratory Corp. of America by 1.1% during the second quarter. AXA now owns 9,309 shares of the medical research company’s stock valued at $1,435,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 91.35% of the company’s stock.

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Laboratory Corp. 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).

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Earnings History and Estimates for Laboratory Corp. of America (NYSE:LH)

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