Brokers Issue Forecasts for Laboratory Corporation of America Holdings’ FY2017 Earnings (LH)

Laboratory Corporation of America Holdings (NYSE:LH) – Analysts at Jefferies Group boosted their FY2017 EPS estimates for Laboratory Corporation of America Holdings in a report released on Thursday, Zacks Investment Research reports. Jefferies Group analyst B. Tanquilut now forecasts that the medical research company will post earnings of $9.55 per share for the year, up from their previous estimate of $9.51. Jefferies Group has a “Hold” rating and a $170.00 price target on the stock. Jefferies Group also issued estimates for Laboratory Corporation of America Holdings’ Q4 2017 earnings at $2.39 EPS, Q1 2018 earnings at $2.42 EPS, Q2 2018 earnings at $2.74 EPS, Q3 2018 earnings at $2.76 EPS and Q4 2018 earnings at $2.68 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, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.08. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the company earned $2.25 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This news story was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/11/11/fy2017-eps-estimates-for-laboratory-corporation-of-america-holdings-lh-lifted-by-analyst.html.

Several other research analysts also recently commented on LH. Robert W. Baird reissued a “hold” rating and issued a $166.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Tuesday, October 17th. KeyCorp reissued a “hold” rating on shares of Laboratory Corporation of America Holdings in a research note on Tuesday, September 26th. ValuEngine downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Barclays PLC increased their price objective on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Seven 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. The company has an average rating of “Buy” and an average target price of $169.00.

Laboratory Corporation of America Holdings (NYSE LH) traded down $1.63 during midday trading on Friday, reaching $150.46. The company had a trading volume of 466,200 shares, compared to its average volume of 724,156. Laboratory Corporation of America Holdings has a 1 year low of $123.36 and a 1 year high of $164.22. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 1.18. The firm has a market cap of $15,482.76, a P/E ratio of 16.35, a P/E/G ratio of 1.61 and a beta of 0.87.

Several large investors have recently modified their holdings of LH. Janus Henderson Group PLC increased its position in shares of Laboratory Corporation of America Holdings by 5,992.1% during the 2nd quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock worth $137,128,000 after purchasing an additional 875,028 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Laboratory Corporation of America Holdings by 1,337.1% during the 2nd quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock worth $130,885,000 after purchasing an additional 800,902 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Laboratory Corporation of America Holdings by 70.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock worth $237,857,000 after purchasing an additional 637,848 shares during the last quarter. Empyrean Capital Partners LP acquired a new stake in shares of Laboratory Corporation of America Holdings during the 2nd quarter worth about $92,484,000. Finally, JPMorgan Chase & Co. increased its position in shares of Laboratory Corporation of America Holdings by 57.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,350,903 shares of the medical research company’s stock worth $202,298,000 after purchasing an additional 492,866 shares during the last quarter. 93.84% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Dwight Gary Gilliland sold 971 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $153.52, for a total transaction of $149,067.92. Following the completion of the sale, the director now directly owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider F Samuel Eberts III sold 31,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 31,894 shares of the company’s stock, valued at $4,950,586.68. The disclosure for this sale can be found here. Insiders have sold a total of 209,871 shares of company stock valued at $32,892,005 over the last three months. Corporate 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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Earnings History and Estimates for Laboratory Corporation of America Holdings (NYSE:LH)

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