Laboratory Corp. of America Holdings (NYSE:LH) – Research analysts at KeyCorp lowered their FY2018 earnings per share estimates for shares of Laboratory Corp. of America in a research note issued to investors on Wednesday, December 5th. KeyCorp analyst D. Hooker now anticipates that the medical research company will earn $11.02 per share for the year, down from their previous estimate of $11.39. KeyCorp has a “Overweight” rating and a $165.00 price target on the stock. KeyCorp also issued estimates for Laboratory Corp. of America’s Q1 2019 earnings at $2.64 EPS, Q2 2019 earnings at $2.86 EPS, Q3 2019 earnings at $2.84 EPS, Q4 2019 earnings at $2.88 EPS, FY2019 earnings at $11.21 EPS and FY2020 earnings at $12.00 EPS.

LH has been the topic of several other research reports. Zacks Investment Research cut shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Credit Suisse Group dropped their target price on shares of Laboratory Corp. of America from $197.00 to $195.00 and set an “outperform” rating on the stock in a report on Tuesday, September 4th. Morgan Stanley raised their target price on shares of Laboratory Corp. of America from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Citigroup dropped their target price on shares of Laboratory Corp. of America from $184.00 to $171.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Finally, William Blair restated an “outperform” rating on shares of Laboratory Corp. of America in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $179.69.

Shares of LH opened at $143.59 on Friday. The company has a market cap of $14.46 billion, a P/E ratio of 14.96, a PEG ratio of 1.47 and a beta of 0.99. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. Laboratory Corp. of America has a twelve month low of $139.18 and a twelve month high of $190.35.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.84 billion. Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. Laboratory Corp. of America’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $2.46 EPS.

In other news, Director R Sanders Williams sold 350 shares of Laboratory Corp. of America stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $162.14, for a total transaction of $56,749.00. Following the transaction, the director now owns 7,886 shares in the company, valued at approximately $1,278,636.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 3,700 shares of Laboratory Corp. of America stock in a transaction on Monday, November 5th. The stock was sold at an average price of $163.29, for a total transaction of $604,173.00. Following the transaction, the director now owns 21,795 shares in the company, valued at approximately $3,558,905.55. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Several hedge funds have recently made changes to their positions in LH. Legacy Financial Advisors Inc. increased its holdings in Laboratory Corp. of America by 763.9% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock valued at $108,000 after acquiring an additional 550 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Laboratory Corp. of America by 7,033.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 633 shares during the last quarter. Fort L.P. bought a new stake in Laboratory Corp. of America in the 2nd quarter valued at $118,000. Rational Advisors LLC increased its holdings in Laboratory Corp. of America by 4,966.7% in the 3rd quarter. Rational Advisors LLC now owns 760 shares of the medical research company’s stock valued at $132,000 after acquiring an additional 745 shares during the last quarter. Finally, NuWave Investment Management LLC increased its holdings in Laboratory Corp. of America by 5,786.7% in the 3rd quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock valued at $154,000 after acquiring an additional 868 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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