Gabelli Equities Analysts Raise Earnings Estimates for Laboratory Corporation of America Holdings (NYSE:LH)

Laboratory Corporation of America Holdings (NYSE:LH) – Equities research analysts at Gabelli lifted their FY2018 earnings estimates for shares of Laboratory Corporation of America Holdings in a research report issued to clients and investors on Tuesday. Gabelli analyst S. Wojda now forecasts that the medical research company will earn $10.75 per share for the year, up from their previous forecast of $10.15. Gabelli also issued estimates for Laboratory Corporation of America Holdings’ FY2019 earnings at $11.70 EPS, FY2020 earnings at $12.75 EPS and FY2021 earnings at $13.85 EPS.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 earnings per share.

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Several other research firms have also recently commented on LH. Craig Hallum restated a “buy” rating and issued a $179.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. Credit Suisse Group reiterated a “buy” rating and set a $146.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Sunday, May 28th. BidaskClub upgraded Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. ValuEngine cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Finally, Jefferies Group LLC dropped their price target on Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $158.42.

Laboratory Corporation of America Holdings (NYSE LH) traded down 1.19% during mid-day trading on Friday, hitting $158.65. 631,861 shares of the stock were exchanged. The stock has a market capitalization of $16.25 billion, a P/E ratio of 22.22 and a beta of 0.94. Laboratory Corporation of America Holdings has a 12-month low of $119.51 and a 12-month high of $164.22. The firm has a 50-day moving average price of $151.97 and a 200-day moving average price of $143.06.

A number of institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Laboratory Corporation of America Holdings by 83.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after buying an additional 523 shares in the last quarter. Parallel Advisors LLC increased its position in Laboratory Corporation of America Holdings by 377.7% in the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after buying an additional 997 shares in the last quarter. Hourglass Capital LLC purchased a new position in Laboratory Corporation of America Holdings during the second quarter valued at approximately $200,000. TNB Financial purchased a new position in Laboratory Corporation of America Holdings during the second quarter valued at approximately $208,000. Finally, Union Bankshares Corp purchased a new position in Laboratory Corporation of America Holdings during the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

In other Laboratory Corporation of America Holdings news, SVP Lance Berberian sold 3,613 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $139.84, for a total value of $505,241.92. Following the completion of the transaction, the senior vice president now directly owns 5,789 shares in the company, valued at $809,533.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean-Luc Belingard sold 992 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $142.19, for a total value of $141,052.48. Following the completion of the transaction, the director now owns 32,935 shares of the company’s stock, valued at $4,683,027.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,573 shares of company stock valued at $2,397,952. 0.90% of the stock is owned by corporate insiders.

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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