Q3 2020 EPS Estimates for Laboratory Corp. of America Holdings Increased by William Blair (NYSE:LH)

Laboratory Corp. of America Holdings (NYSE:LH) – Research analysts at William Blair lifted their Q3 2020 earnings per share estimates for shares of Laboratory Corp. of America in a report issued on Tuesday, July 28th. William Blair analyst M. Larew now forecasts that the medical research company will earn $4.83 per share for the quarter, up from their previous estimate of $2.17. William Blair also issued estimates for Laboratory Corp. of America’s Q4 2020 earnings at $4.32 EPS, FY2020 earnings at $14.08 EPS, Q1 2021 earnings at $3.57 EPS, Q2 2021 earnings at $3.02 EPS, Q3 2021 earnings at $3.12 EPS, Q4 2021 earnings at $3.31 EPS and FY2021 earnings at $15.01 EPS.

A number of other research firms have also recently issued reports on LH. Mizuho lifted their target price on Laboratory Corp. of America from $186.00 to $215.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley lifted their price objective on Laboratory Corp. of America from $241.00 to $244.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. lifted their price objective on Laboratory Corp. of America from $118.00 to $223.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Bank of America lifted their target price on Laboratory Corp. of America from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays boosted their price objective on Laboratory Corp. of America from $188.00 to $195.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $214.44.

Shares of NYSE LH opened at $192.92 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.07 and a current ratio of 1.12. Laboratory Corp. of America has a 52 week low of $98.02 and a 52 week high of $206.74. The stock has a market capitalization of $18.94 billion, a P/E ratio of 18.21, a PEG ratio of 1.72 and a beta of 1.38. The stock’s fifty day moving average is $177.01 and its 200 day moving average is $167.49.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Tuesday, July 28th. The medical research company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $1.79. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.44 billion. Laboratory Corp. of America had a return on equity of 14.39% and a net margin of 3.16%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 EPS.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Laboratory Corp. of America during the fourth quarter worth $163,682,000. Melvin Capital Management LP increased its position in shares of Laboratory Corp. of America by 37.1% in the 1st quarter. Melvin Capital Management LP now owns 2,570,950 shares of the medical research company’s stock valued at $324,942,000 after acquiring an additional 695,317 shares during the period. Alliancebernstein L.P. grew its position in Laboratory Corp. of America by 319.1% during the 1st quarter. Alliancebernstein L.P. now owns 648,390 shares of the medical research company’s stock worth $81,950,000 after purchasing an additional 493,682 shares during the period. Wellington Management Group LLP grew its position in Laboratory Corp. of America by 72.6% during the 1st quarter. Wellington Management Group LLP now owns 961,899 shares of the medical research company’s stock worth $121,575,000 after purchasing an additional 404,600 shares during the period. Finally, FDx Advisors Inc. grew its position in Laboratory Corp. of America by 13,173.7% during the 1st quarter. FDx Advisors Inc. now owns 300,782 shares of the medical research company’s stock worth $503,000 after purchasing an additional 298,516 shares during the period. 88.80% of the stock is currently owned by hedge funds and other institutional investors.

In other Laboratory Corp. of America news, Director R Sanders Williams sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $173.12, for a total transaction of $225,056.00. Following the sale, the director now directly owns 6,395 shares of the company’s stock, valued at $1,107,102.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 435 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $170.00, for a total value of $73,950.00. Following the sale, the executive vice president now directly owns 4,044 shares in the company, valued at $687,480. The disclosure for this sale can be found here. Insiders have sold 2,607 shares of company stock worth $438,814 over the last quarter. 0.70% of the stock is owned by company insiders.

About Laboratory Corp. of America

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

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