The Laboratory Corporation of America Holdings (LH) Forecasted to Earn Q1 2019 Earnings of $2.61 Per Share

The Laboratory Corporation of America Holdings (LH) Forecasted to Earn Q1 2019 Earnings of $2.61 Per Share

Laboratory Corporation of America Holdings (NYSE:LH) – Equities researchers at William Blair issued their Q1 2019 earnings per share (EPS) estimates for shares of Laboratory Corporation of America Holdings in a note issued to investors on Wednesday. William Blair analyst A. Murphy forecasts that the medical research company will post earnings of $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.

LH has been the topic of several other research reports. Barclays PLC increased their price objective on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $190.00 target price on shares of Laboratory Corporation of America Holdings in a report on Thursday, October 12th. ValuEngine lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, KeyCorp reissued a “hold” rating on shares of Laboratory Corporation of America Holdings in a report on Tuesday, September 26th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Laboratory Corporation of America Holdings has an average rating of “Buy” and a consensus price target of $170.33.

Laboratory Corporation of America Holdings (LH) traded up 0.69% during trading on Thursday, hitting $153.77. 923,512 shares of the stock traded hands. The company has a market cap of $15.65 billion, a P/E ratio of 21.54 and a beta of 0.92. The firm has a 50-day moving average price of $152.43 and a 200 day moving average price of $149.31. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.08. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share.

A number of institutional investors and hedge funds have recently made changes to their positions in LH. Acrospire Investment Management LLC grew its holdings in Laboratory Corporation of America Holdings by 16.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after buying an additional 100 shares in the last quarter. Sun Life Financial INC boosted its position in shares of Laboratory Corporation of America Holdings by 9,200.0% during the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 736 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Laboratory Corporation of America Holdings by 83.9% during the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 523 shares during the last quarter. Hourglass Capital LLC bought a new position in shares of Laboratory Corporation of America Holdings during the 2nd quarter valued at approximately $200,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Laboratory Corporation of America Holdings during the 1st quarter valued at approximately $208,000. 93.23% of the stock is owned by institutional investors and hedge funds.

In other Laboratory Corporation of America Holdings news, Director R Sanders Williams sold 3,100 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $156.88, for a total transaction of $486,328.00. Following the completion of the sale, the director now directly owns 10,073 shares of the company’s stock, valued at approximately $1,580,252.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David P. King sold 44,687 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the sale, the chief executive officer now directly owns 258,753 shares of the company’s stock, valued at $40,587,995.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 222,968 shares of company stock valued at $34,980,922. Insiders own 0.90% 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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