Brokerages expect Laboratory Corp. of America Holdings (NYSE:LH) to announce sales of $2.90 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Laboratory Corp. of America’s earnings, with the highest sales estimate coming in at $2.91 billion and the lowest estimate coming in at $2.86 billion. Laboratory Corp. of America reported sales of $2.87 billion in the same quarter last year, which indicates a positive year over year growth rate of 1%. The firm is expected to report its next earnings report on Wednesday, July 24th.

On average, analysts expect that Laboratory Corp. of America will report full-year sales of $11.47 billion for the current financial year, with estimates ranging from $11.43 billion to $11.57 billion. For the next financial year, analysts forecast that the firm will post sales of $11.90 billion, with estimates ranging from $11.73 billion to $12.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Tuesday, April 30th. The medical research company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.09. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Laboratory Corp. of America had a net margin of 8.59% and a return on equity of 16.59%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.78 earnings per share.

A number of research analysts have recently issued reports on LH shares. TheStreet upgraded shares of Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research note on Friday, May 3rd. Morgan Stanley set a $175.00 target price on shares of Laboratory Corp. of America and gave the company a “buy” rating in a research note on Friday, February 22nd. Jefferies Financial Group upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and lifted their target price for the company from $154.00 to $190.00 in a research note on Tuesday, April 2nd. UBS Group lifted their target price on shares of Laboratory Corp. of America from $178.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $174.00 target price for the company in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Laboratory Corp. of America presently has an average rating of “Hold” and a consensus target price of $179.33.

In other Laboratory Corp. of America news, Director Robert E. Mittelstaedt, Jr. sold 3,700 shares of Laboratory Corp. of America stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $166.30, for a total transaction of $615,310.00. Following the completion of the sale, the director now owns 18,909 shares of the company’s stock, valued at approximately $3,144,566.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 10,000 shares of Laboratory Corp. of America stock in a transaction on Friday, June 7th. The stock was sold at an average price of $167.40, for a total transaction of $1,674,000.00. Following the sale, the chief financial officer now directly owns 28,366 shares of the company’s stock, valued at approximately $4,748,468.40. The disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock valued at $3,026,410 in the last ninety days. Company insiders own 0.74% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LH. Bremer Trust National Association acquired a new position in shares of Laboratory Corp. of America in the 4th quarter valued at $31,000. Premia Global Advisors LLC acquired a new position in shares of Laboratory Corp. of America in the 1st quarter valued at $31,000. Osborn Williams & Donohoe LLC acquired a new position in shares of Laboratory Corp. of America in the 1st quarter valued at $32,000. Bremer Bank National Association acquired a new position in shares of Laboratory Corp. of America in the 1st quarter valued at $35,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Laboratory Corp. of America in the 4th quarter valued at $39,000. 91.56% of the stock is owned by hedge funds and other institutional investors.

LH traded down $0.17 during midday trading on Friday, reaching $166.44. 38,371 shares of the company’s stock were exchanged, compared to its average volume of 828,166. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.73 and a beta of 1.04. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.77. Laboratory Corp. of America has a one year low of $119.38 and a one year high of $190.07.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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