Laboratory Co. of America Holdings (NYSE:LH) Expected to Post Quarterly Sales of $3.58 Billion

Brokerages expect Laboratory Co. of America Holdings (NYSE:LH) to post sales of $3.58 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Laboratory Co. of America’s earnings, with the highest sales estimate coming in at $3.71 billion and the lowest estimate coming in at $3.46 billion. Laboratory Co. of America reported sales of $3.90 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.2%. The firm is expected to report its next earnings report on Tuesday, October 26th.

On average, analysts expect that Laboratory Co. of America will report full year sales of $15.15 billion for the current financial year, with estimates ranging from $14.96 billion to $15.37 billion. For the next financial year, analysts forecast that the company will post sales of $14.08 billion, with estimates ranging from $13.69 billion to $14.72 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Laboratory Co. of America.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, July 28th. The medical research company reported $6.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.64 by $0.49. Laboratory Co. of America had a net margin of 17.57% and a return on equity of 35.18%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.59 billion.

LH has been the topic of a number of recent research reports. Argus upped their price objective on shares of Laboratory Co. of America from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, May 20th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Laboratory Co. of America from $297.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Truist Securities upped their price objective on shares of Laboratory Co. of America from $330.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Credit Suisse Group increased their price target on shares of Laboratory Co. of America from $295.00 to $336.00 and gave the company an “outperform” rating in a report on Friday, August 20th. Finally, Robert W. Baird set a $276.78 price target on shares of Laboratory Co. of America and gave the company a “buy” rating in a report on Wednesday, July 21st. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat, Laboratory Co. of America has a consensus rating of “Buy” and an average price target of $314.52.

LH stock traded down $0.66 during trading on Tuesday, reaching $296.80. The company had a trading volume of 528,467 shares, compared to its average volume of 675,469. The company has a market cap of $28.61 billion, a P/E ratio of 10.13, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 1.98. Laboratory Co. of America has a 52 week low of $176.49 and a 52 week high of $309.60. The business has a 50 day moving average of $294.79 and a 200 day moving average of $272.36.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC raised its position in Laboratory Co. of America by 1,250.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the medical research company’s stock worth $28,000 after acquiring an additional 100 shares during the period. Liberty Wealth Management LLC raised its position in Laboratory Co. of America by 27,486.7% in the second quarter. Liberty Wealth Management LLC now owns 8,276 shares of the medical research company’s stock worth $30,000 after acquiring an additional 8,246 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Laboratory Co. of America during the 2nd quarter valued at $31,000. Grant Street Asset Management Inc. raised its position in shares of Laboratory Co. of America by 101.3% during the 1st quarter. Grant Street Asset Management Inc. now owns 157 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 79 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Laboratory Co. of America by 22.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 219 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 88.29% of the company’s stock.

Laboratory Co. of America Company Profile

Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.

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

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