KeyCorp Weighs in on Laboratory Corporation of America Holdings’ Q1 2018 Earnings (LH)

Laboratory Corporation of America Holdings (NYSE:LH) – KeyCorp lowered their Q1 2018 EPS estimates for Laboratory Corporation of America Holdings in a research note issued on Wednesday, according to Zacks Investment Research. KeyCorp analyst D. Hooker now forecasts that the medical research company will post earnings per share of $2.44 for the quarter, down from their previous estimate of $2.52. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Laboratory Corporation of America Holdings’ Q2 2018 earnings at $2.58 EPS, Q3 2018 earnings at $2.69 EPS, Q4 2018 earnings at $2.63 EPS, FY2018 earnings at $10.35 EPS and FY2019 earnings at $10.87 EPS.

Several other equities analysts also recently weighed in on the stock. Barclays PLC lifted their target price on shares of Laboratory Corporation of America Holdings from $183.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, October 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $170.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Wednesday, September 13th. Morgan Stanley raised their price objective on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Finally, Canaccord Genuity restated a “buy” rating and issued a $180.00 price objective (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research report on Monday, September 11th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $169.00.

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Laboratory Corporation of America Holdings (LH) opened at $150.46 on Friday. The firm has a market cap of $15,482.76, a PE ratio of 16.35, a PEG ratio of 1.61 and a beta of 0.87. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75. Laboratory Corporation of America Holdings has a 12 month low of $123.36 and a 12 month 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 7.40% and a return on equity of 16.75%. 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.

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

In other news, insider F Samuel Eberts III sold 31,500 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $155.22, for a total value of $4,889,430.00. Following the completion of the sale, the insider now directly owns 31,894 shares in the company, valued at approximately $4,950,586.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David P. King sold 132,713 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $157.06, for a total transaction of $20,843,903.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,871 shares of company stock valued at $32,892,005. 0.90% of the stock is currently owned by company insiders.

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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