Laboratory Co. of America Holdings (NYSE:LH) Expected to Post Earnings of $4.77 Per Share

Brokerages predict that Laboratory Co. of America Holdings (NYSE:LH) will report $4.77 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Laboratory Co. of America’s earnings. The highest EPS estimate is $6.08 and the lowest is $4.29. Laboratory Co. of America posted earnings per share of $8.41 in the same quarter last year, which would suggest a negative year over year growth rate of 43.3%. The business is expected to announce its next earnings report before the market opens on Thursday, October 28th.

On average, analysts expect that Laboratory Co. of America will report full-year earnings of $24.19 per share for the current year, with EPS estimates ranging from $23.16 to $26.79. For the next fiscal year, analysts anticipate that the company will post earnings of $16.52 per share, with EPS estimates ranging from $16.05 to $17.02. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Laboratory Co. of America.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Wednesday, July 28th. The medical research company reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.64 by $0.49. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.59 billion. Laboratory Co. of America had a net margin of 17.57% and a return on equity of 35.18%.

A number of research analysts recently weighed in on LH shares. Truist raised their target price on shares of Laboratory Co. of America from $330.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, July 30th. They noted that the move was a valuation call. Credit Suisse Group lifted their price objective on shares of Laboratory Co. of America from $295.00 to $336.00 and gave the company an “outperform” rating in a research report on Friday, August 20th. Morgan Stanley raised their target price on shares of Laboratory Co. of America from $273.00 to $368.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 31st. Robert W. Baird set a $276.78 target price on shares of Laboratory Co. of America and gave the stock a “buy” rating in a research note on Wednesday, July 21st. Finally, Zacks Investment Research upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research note on Wednesday, June 30th. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $314.52.

In other news, EVP Der Vaart Sandra D. Van sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 15th. The shares were sold at an average price of $296.78, for a total value of $1,335,510.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Laboratory Co. of America by 1,250.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Eagle Bay Advisors LLC acquired a new position in Laboratory Co. of America during the second quarter worth $31,000. Mascoma Wealth Management LLC bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth $53,000. Lee Financial Co bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth $57,000. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Laboratory Co. of America by 98.4% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 248 shares of the medical research company’s stock worth $68,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 88.29% of the company’s stock.

Laboratory Co. of America stock opened at $273.47 on Thursday. The company has a market cap of $26.36 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Laboratory Co. of America has a 1-year low of $190.00 and a 1-year high of $309.60. The company has a fifty day simple moving average of $295.41 and a 200 day simple moving average of $278.68. The company has a current ratio of 2.13, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

Laboratory Co. of America Company Profile

Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.

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

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