$2.84 Billion in Sales Expected for Laboratory Corp. of America Holdings (LH) This Quarter

Equities analysts expect Laboratory Corp. of America Holdings (NYSE:LH) to post sales of $2.84 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Laboratory Corp. of America’s earnings, with estimates ranging from $2.80 billion to $2.87 billion. Laboratory Corp. of America posted sales of $2.66 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.8%. The company is scheduled to report its next quarterly earnings report before the market opens on Wednesday, October 24th.

On average, analysts expect that Laboratory Corp. of America will report full-year sales of $11.41 billion for the current financial year, with estimates ranging from $11.34 billion to $11.48 billion. For the next financial year, analysts expect that the business will post sales of $11.70 billion, with estimates ranging from $11.52 billion to $11.88 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Wednesday, July 25th. The medical research company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.06. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. Laboratory Corp. of America had a net margin of 11.59% and a return on equity of 16.38%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS.

Several brokerages recently issued reports on LH. SunTrust Banks reaffirmed a “buy” rating and set a $220.00 price target on shares of Laboratory Corp. of America in a report on Friday, July 20th. ValuEngine lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Mizuho reissued a “hold” rating and set a $189.00 target price on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Deutsche Bank lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 target price on the stock. in a report on Wednesday, June 27th. Finally, Morgan Stanley boosted their target price on shares of Laboratory Corp. of America from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $197.44.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Laboratory Corp. of America by 9.1% in the 2nd quarter. BlackRock Inc. now owns 8,711,292 shares of the medical research company’s stock valued at $1,563,937,000 after purchasing an additional 729,038 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of Laboratory Corp. of America by 4.0% in the 2nd quarter. Iridian Asset Management LLC CT now owns 1,758,908 shares of the medical research company’s stock valued at $315,777,000 after purchasing an additional 67,987 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Laboratory Corp. of America by 113.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,700,776 shares of the medical research company’s stock valued at $305,341,000 after purchasing an additional 903,554 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Laboratory Corp. of America by 1.2% in the 2nd quarter. Bessemer Group Inc. now owns 1,113,356 shares of the medical research company’s stock valued at $199,880,000 after purchasing an additional 13,293 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Laboratory Corp. of America by 7.5% in the 2nd quarter. Jennison Associates LLC now owns 974,351 shares of the medical research company’s stock valued at $174,925,000 after purchasing an additional 67,926 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Laboratory Corp. of America stock opened at $172.40 on Friday. The company has a market cap of $17.70 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.74 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.42. Laboratory Corp. of America has a 1 year low of $147.27 and a 1 year high of $190.35.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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