Brokerages forecast that Laboratory Corp. of America Holdings (NYSE:LH) will post earnings of $2.85 per share for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Laboratory Corp. of America’s earnings, with estimates ranging from $2.81 to $2.88. Laboratory Corp. of America reported earnings of $2.74 per share during the same quarter last year, which suggests a positive year over year growth rate of 4%. The business is expected to report its next quarterly earnings report on Wednesday, October 23rd.
According to Zacks, analysts expect that Laboratory Corp. of America will report full year earnings of $11.28 per share for the current fiscal year, with EPS estimates ranging from $11.20 to $11.35. For the next fiscal year, analysts forecast that the firm will post earnings of $12.12 per share, with EPS estimates ranging from $11.77 to $12.36. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Laboratory Corp. of America.
Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.90 by $0.03. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.98 earnings per share.
Shares of Laboratory Corp. of America stock traded up $2.52 on Tuesday, hitting $166.15. The company had a trading volume of 613,700 shares, compared to its average volume of 787,867. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.49 and a beta of 1.05. Laboratory Corp. of America has a 1 year low of $119.38 and a 1 year high of $182.75. The stock has a 50 day moving average of $170.43 and a 200-day moving average of $160.13. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.03 and a current ratio of 1.14.
In other Laboratory Corp. of America news, SVP Der Vaart Sandra D. Van sold 2,328 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $176.75, for a total value of $411,474.00. Following the completion of the sale, the senior vice president now directly owns 2,328 shares of the company’s stock, valued at $411,474. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Sanders Williams sold 500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $162.91, for a total value of $81,455.00. Following the completion of the sale, the director now directly owns 6,886 shares of the company’s stock, valued at $1,121,798.26. The disclosure for this sale can be found here. Insiders have sold 21,491 shares of company stock valued at $3,677,189 over the last ninety days. 0.74% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Magnetar Financial LLC boosted its stake in Laboratory Corp. of America by 22.9% during the second quarter. Magnetar Financial LLC now owns 58,062 shares of the medical research company’s stock valued at $10,039,000 after buying an additional 10,800 shares during the period. Royal Bank of Canada boosted its stake in Laboratory Corp. of America by 4.1% during the second quarter. Royal Bank of Canada now owns 357,735 shares of the medical research company’s stock valued at $61,853,000 after buying an additional 14,068 shares during the period. HM Payson & Co. bought a new stake in Laboratory Corp. of America during the second quarter valued at $413,000. MAI Capital Management bought a new stake in Laboratory Corp. of America during the second quarter valued at $308,000. Finally, Eaton Vance Management boosted its stake in Laboratory Corp. of America by 1.2% during the second quarter. Eaton Vance Management now owns 14,211 shares of the medical research company’s stock valued at $2,455,000 after buying an additional 163 shares during the period. 90.78% of the stock is owned by institutional investors and hedge funds.
Laboratory Corp. of America Company Profile
Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.
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