Laboratory Corp. of America Holdings (NYSE:LH) – Research analysts at KeyCorp cut their FY2016 earnings per share estimates for Laboratory Corp. of America Holdings in a research report issued to clients and investors on Monday. KeyCorp analyst D. Hooker now expects that the firm will earn $8.80 per share for the year, down from their prior forecast of $8.89. KeyCorp currently has a “Overweight” rating and a $150.00 target price on the stock. KeyCorp also issued estimates for Laboratory Corp. of America Holdings’ Q4 2016 earnings at $2.22 EPS, Q1 2017 earnings at $2.33 EPS, Q2 2017 earnings at $2.52 EPS, Q3 2017 earnings at $2.42 EPS, Q4 2017 earnings at $2.40 EPS and FY2017 earnings at $9.66 EPS.

Laboratory Corp. of America Holdings (NYSE:LH) last issued its earnings results on Wednesday, October 26th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by $0.04. The business earned $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. Laboratory Corp. of America Holdings had a net margin of 6.85% and a return on equity of 16.97%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $2.07 EPS.

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

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity set a $140.00 target price on Laboratory Corp. of America Holdings and gave the stock a “buy” rating in a report on Sunday, October 30th. Evercore ISI lifted their target price on Laboratory Corp. of America Holdings from $147.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Citigroup Inc. initiated coverage on Laboratory Corp. of America Holdings in a research note on Friday, September 9th. They issued a “neutral” rating and a $156.00 price target for the company. They noted that the move was a valuation call. Zacks Investment Research downgraded Laboratory Corp. of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Finally, Barclays PLC set a $155.00 price target on Laboratory Corp. of America Holdings and gave the company a “buy” rating in a research note on Monday, August 29th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Laboratory Corp. of America Holdings has a consensus rating of “Buy” and an average target price of $143.13.

Laboratory Corp. of America Holdings (NYSE:LH) opened at 127.12 on Wednesday. The stock has a 50 day moving average of $131.83 and a 200 day moving average of $132.85. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 20.16 and a beta of 0.96. Laboratory Corp. of America Holdings has a 52 week low of $97.79 and a 52 week high of $141.32.

A number of hedge funds have recently made changes to their positions in LH. Robecosam AG boosted its stake in shares of Laboratory Corp. of America Holdings by 23.1% in the second quarter. Robecosam AG now owns 800 shares of the company’s stock valued at $104,000 after buying an additional 150 shares during the last quarter. Smithfield Trust Co. bought a new stake in shares of Laboratory Corp. of America Holdings during the second quarter valued at approximately $107,000. Roble Belko & Company Inc bought a new stake in shares of Laboratory Corp. of America Holdings during the second quarter valued at approximately $117,000. Integrated Investment Consultants LLC boosted its stake in shares of Laboratory Corp. of America Holdings by 56.3% in the second quarter. Integrated Investment Consultants LLC now owns 938 shares of the company’s stock valued at $122,000 after buying an additional 338 shares during the last quarter. Finally, TLP Group LLC bought a new stake in shares of Laboratory Corp. of America Holdings during the third quarter valued at approximately $127,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

About Laboratory Corp. of America Holdings

Laboratory Corporation of America Holdings is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

5 Day Chart for NYSE:LH

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