Gabelli Weighs in on Laboratory Corporation of America Holdings’ FY2017 Earnings (LH)

Laboratory Corporation of America Holdings (NYSE:LH) – Equities researchers at Gabelli reduced their FY2017 EPS estimates for Laboratory Corporation of America Holdings in a research report issued on Thursday. Gabelli analyst S. Wojda now forecasts that the medical research company will post earnings of $9.45 per share for the year, down from their prior forecast of $9.50. Gabelli also issued estimates for Laboratory Corporation of America Holdings’ FY2018 earnings at $10.15 EPS, FY2019 earnings at $11.00 EPS, FY2020 earnings at $11.95 EPS and FY2021 earnings at $12.95 EPS.

A number of other research analysts also recently issued reports on LH. Barclays PLC upped their target price on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday. Craig Hallum restated a “buy” rating and set a $179.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday. Credit Suisse Group downgraded shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 target price on the stock. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $158.42.

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Laboratory Corporation of America Holdings (LH) opened at 160.07 on Friday. Laboratory Corporation of America Holdings has a 52 week low of $119.51 and a 52 week high of $164.22. The firm has a market cap of $16.38 billion, a PE ratio of 21.99 and a beta of 0.93. The stock has a 50 day moving average of $150.88 and a 200 day moving average of $142.56.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.07. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.36 EPS.

In related news, Director Jean-Luc Belingard sold 992 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $142.19, for a total transaction of $141,052.48. Following the completion of the sale, the director now directly owns 32,935 shares of the company’s stock, valued at approximately $4,683,027.65. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Lance Berberian sold 3,613 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total value of $505,241.92. Following the sale, the senior vice president now directly owns 5,789 shares of the company’s stock, valued at $809,533.76. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in Laboratory Corporation of America Holdings by 377.7% in the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock worth $177,000 after buying an additional 997 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new stake in Laboratory Corporation of America Holdings during the first quarter worth about $202,000. Ingalls & Snyder LLC acquired a new stake in Laboratory Corporation of America Holdings during the first quarter worth about $206,000. Oppenheimer Asset Management Inc. acquired a new stake in Laboratory Corporation of America Holdings during the first quarter worth about $208,000. Finally, TNB Financial acquired a new stake in Laboratory Corporation of America Holdings during the second quarter worth about $208,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Laboratory Corporation of America Holdings Company Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).