Laboratory Corp. of America (NYSE:LH) issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.07, Bloomberg Earnings reports. Laboratory Corp. of America had a return on equity of 16.30% and a net margin of 12.15%. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the company posted $2.15 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. Laboratory Corp. of America updated its FY18 guidance to $11.30-11.70 EPS.
Laboratory Corp. of America (NYSE:LH) traded down $0.73 during mid-day trading on Wednesday, reaching $170.28. 127,224 shares of the company’s stock traded hands, compared to its average volume of 647,563. The stock has a market cap of $17,152.28, a PE ratio of 17.55, a P/E/G ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.31 and a quick ratio of 1.20. Laboratory Corp. of America has a 12-month low of $134.10 and a 12-month high of $181.71.
Several equities research analysts have recently weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Laboratory Corp. of America in a research note on Monday, January 29th. They set a “buy” rating and a $205.00 target price for the company. Mizuho set a $178.00 price objective on shares of Laboratory Corp. of America and gave the company a “hold” rating in a research report on Wednesday, January 24th. ValuEngine upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Robert W. Baird set a $183.00 price objective on shares of Laboratory Corp. of America and gave the company a “hold” rating in a research report on Thursday, February 8th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $180.73.
In other Laboratory Corp. of America news, Director Adam H. Schechter sold 1,263 shares of Laboratory Corp. of America stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $169.29, for a total value of $213,813.27. Following the completion of the sale, the director now directly owns 7,297 shares of the company’s stock, valued at approximately $1,235,309.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Zions Bancorporation lifted its holdings in shares of Laboratory Corp. of America by 7,444.4% during the 3rd quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after acquiring an additional 670 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Laboratory Corp. of America during the 4th quarter valued at $182,000. Weik Capital Management acquired a new position in Laboratory Corp. of America in the 4th quarter worth $200,000. Hourglass Capital LLC acquired a new position in Laboratory Corp. of America in the 4th quarter worth $207,000. Finally, Teacher Retirement System of Texas acquired a new position in Laboratory Corp. of America in the 3rd quarter worth $210,000. Institutional investors own 91.70% of the company’s stock.
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Laboratory Corp. of America 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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