Analysts expect Laboratory Corp. of America Holdings (NYSE:LH) to report earnings per share of $2.89 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Laboratory Corp. of America’s earnings, with estimates ranging from $2.82 to $3.01. Laboratory Corp. of America reported earnings per share of $2.98 during the same quarter last year, which would suggest a negative year over year growth rate of 3%. The company is expected to report its next earnings results on Wednesday, July 24th.
On average, analysts expect that Laboratory Corp. of America will report full-year earnings of $11.27 per share for the current financial year, with EPS estimates ranging from $11.19 to $11.35. For the next year, analysts expect that the company will post earnings of $12.08 per share, with EPS estimates ranging from $11.85 to $12.45. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Laboratory Corp. of America.
Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Tuesday, April 30th. The medical research company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.09. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Laboratory Corp. of America had a return on equity of 16.59% and a net margin of 8.59%. Laboratory Corp. of America’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.78 earnings per share.
NYSE LH traded down $0.17 on Wednesday, hitting $166.44. 38,371 shares of the stock traded hands, compared to its average volume of 828,166. Laboratory Corp. of America has a twelve month low of $119.38 and a twelve month high of $190.07. The stock has a market capitalization of $16.62 billion, a P/E ratio of 15.10, a PEG 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.
In related news, CFO Glenn A. Eisenberg sold 10,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $167.40, for a total value of $1,674,000.00. Following the completion of the transaction, the chief financial officer now directly owns 28,366 shares of the company’s stock, valued at approximately $4,748,468.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa J. Uthgenannt sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $164.00, for a total value of $656,000.00. Following the completion of the transaction, the insider now directly owns 4,638 shares of the company’s stock, valued at $760,632. The disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock worth $3,026,410 over the last quarter. Insiders own 0.74% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Bremer Trust National Association bought a new position in Laboratory Corp. of America during the 4th quarter valued at $31,000. Premia Global Advisors LLC bought a new position in Laboratory Corp. of America during the 1st quarter valued at $31,000. Osborn Williams & Donohoe LLC bought a new position in Laboratory Corp. of America during the 1st quarter valued at $32,000. Bremer Bank National Association bought a new position in Laboratory Corp. of America during the 1st quarter valued at $35,000. Finally, Quantamental Technologies LLC bought a new position in Laboratory Corp. of America during the 4th quarter valued at $39,000. 91.56% of the stock is owned by institutional investors and hedge funds.
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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