Laboratory Corporation of America Holdings to Post Q1 2019 Earnings of $2.61 Per Share, William Blair Forecasts (LH)

Laboratory Corporation of America Holdings (NYSE:LH) – Investment analysts at William Blair issued their Q1 2019 earnings per share estimates for shares of Laboratory Corporation of America Holdings in a research note issued to investors on Wednesday, Zacks Investment Research reports. William Blair analyst A. Murphy expects that the medical research company will earn $2.61 per share for the quarter. William Blair also issued estimates for Laboratory Corporation of America Holdings’ Q2 2019 earnings at $2.94 EPS and Q3 2019 earnings at $2.95 EPS.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.08. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 earnings per share.

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Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Robert W. Baird reiterated a “hold” rating and issued a $150.00 price objective on shares of Laboratory Corporation of America Holdings in a report on Friday, October 27th. Barclays PLC upped their price objective on Laboratory Corporation of America Holdings from $183.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Deutsche Bank AG upped their price objective on Laboratory Corporation of America Holdings from $170.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, Craig Hallum restated a “buy” rating and issued a $180.00 price target (up from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, October 26th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Laboratory Corporation of America Holdings presently has a consensus rating of “Buy” and an average price target of $169.00.

Laboratory Corporation of America Holdings (LH) opened at $150.46 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75. The company has a market capitalization of $15,316.83, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. Laboratory Corporation of America Holdings has a one year low of $123.36 and a one year high of $164.22.

In other news, Director Dwight Gary Gilliland sold 971 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $153.52, for a total transaction of $149,067.92. Following the transaction, the director now owns 3,501 shares in the company, valued at $537,473.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider F Samuel Eberts III sold 31,500 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $155.22, for a total value of $4,889,430.00. Following the transaction, the insider now owns 31,894 shares in the company, valued at approximately $4,950,586.68. The disclosure for this sale can be found here. Insiders have sold 209,871 shares of company stock valued at $32,892,005 over the last three months. Insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of Laboratory Corporation of America Holdings by 1.9% during the second quarter. Swiss National Bank now owns 460,275 shares of the medical research company’s stock worth $70,947,000 after purchasing an additional 8,500 shares during the period. Sentry Investments Corp. increased its stake in Laboratory Corporation of America Holdings by 29.6% during the 2nd quarter. Sentry Investments Corp. now owns 924,900 shares of the medical research company’s stock worth $142,564,000 after acquiring an additional 211,180 shares during the period. Allen Investment Management LLC increased its stake in Laboratory Corporation of America Holdings by 13.7% during the 2nd quarter. Allen Investment Management LLC now owns 732,798 shares of the medical research company’s stock worth $112,953,000 after acquiring an additional 88,564 shares during the period. Taylor Asset Management Inc. increased its stake in Laboratory Corporation of America Holdings by 1.8% during the 2nd quarter. Taylor Asset Management Inc. now owns 51,600 shares of the medical research company’s stock worth $7,953,000 after acquiring an additional 900 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Laboratory Corporation of America Holdings by 2.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 39,891 shares of the medical research company’s stock worth $6,150,000 after acquiring an additional 881 shares during the period. Institutional investors own 93.84% of the company’s stock.

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).

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Earnings History and Estimates for Laboratory Corporation of America Holdings (NYSE:LH)

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