Laboratory Corp. of America (NYSE:LH) posted its earnings results on Thursday. The medical research company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04, MarketWatch Earnings reports. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 earnings per share. Laboratory Corp. of America updated its FY 2019 guidance to $11.00-11.40 EPS and its FY19 guidance to $11.00-11.40 EPS.
Shares of NYSE LH opened at $147.46 on Friday. The company has a market capitalization of $14.25 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.44 and a beta of 1.13. Laboratory Corp. of America has a 1 year low of $119.38 and a 1 year high of $190.35. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44.
In related news, Director R Sanders Williams sold 350 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $162.14, for a total value of $56,749.00. Following the completion of the transaction, the director now owns 7,886 shares in the company, valued at approximately $1,278,636.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.73% of the stock is owned by company insiders.
A number of research firms have recently commented on LH. Zacks Investment Research cut shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Friday, February 1st. UBS Group began coverage on shares of Laboratory Corp. of America in a report on Thursday, January 17th. They issued a “buy” rating and a $169.00 target price for the company. TheStreet cut shares of Laboratory Corp. of America from a “b-” rating to a “c+” rating in a report on Friday, January 11th. ValuEngine cut shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Finally, Bank of America cut shares of Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a report on Thursday, January 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $178.44.
ILLEGAL ACTIVITY WARNING: “Laboratory Corp. of America (LH) Announces Earnings Results” was posted by Dakota Financial News and is the property of of Dakota Financial News. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://dakotafinancialnews.com/2019/02/08/laboratory-corp-of-america-lh-announces-earnings-results.html.
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.
Read More: How Do Tariffs Affect Trade Balances?
Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.