Laboratory Corporation of America Holdings (NYSE:LH) - Equities research analysts at Craig Hallum reduced their Q1 2018 earnings estimates for shares of Laboratory Corporation of America Holdings in a research report issued on Wednesday. Craig Hallum analyst K. Ellich now forecasts that the medical research company will earn $2.34 per share for the quarter, down from their prior forecast of $2.35. Craig Hallum currently has a “Buy” rating and a $179.00 price objective on the stock. Craig Hallum also issued estimates for Laboratory Corporation of America Holdings’ Q2 2018 earnings at $2.63 EPS, Q3 2018 earnings at $2.66 EPS and FY2018 earnings at $10.24 EPS.
Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the business posted $2.36 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Laboratory Corporation of America Holdings to Post Q1 2018 Earnings of $2.34 Per Share, Craig Hallum Forecasts (LH)” was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://stocknewstimes.com/2017/08/19/laboratory-corporation-of-america-holdings-to-post-q1-2018-earnings-of-2-34-per-share-craig-hallum-forecasts-lh-updated-updated.html.
Several other research analysts have also commented on LH. Zacks Investment Research lowered shares of Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. Jefferies Group LLC dropped their price objective on shares of Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating for the company in a research note on Friday, April 28th. Credit Suisse Group reaffirmed a “buy” rating and set a $146.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Sunday, May 28th. ValuEngine lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Finally, BidaskClub lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Laboratory Corporation of America Holdings currently has an average rating of “Buy” and a consensus target price of $158.42.
Laboratory Corporation of America Holdings (NYSE:LH) traded up 0.94% during midday trading on Monday, reaching $160.40. 266,032 shares of the company were exchanged. The company has a 50-day moving average of $151.40 and a 200 day moving average of $142.87. 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 capitalization of $16.42 billion, a PE ratio of 22.46 and a beta of 0.93.
In related news, Director Jean-Luc Belingard sold 992 shares of Laboratory Corporation of America Holdings stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $142.19, for a total value of $141,052.48. Following the completion of the sale, the director now directly owns 32,935 shares in the company, valued at $4,683,027.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lance Berberian sold 3,613 shares of Laboratory Corporation of America Holdings stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $139.84, for a total value of $505,241.92. Following the completion of the sale, the senior vice president now 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 company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Jacobs & Co. CA increased its stake in Laboratory Corporation of America Holdings by 3.0% in the first quarter. Jacobs & Co. CA now owns 18,776 shares of the medical research company’s stock valued at $2,693,000 after buying an additional 550 shares during the last quarter. Bank of Montreal Can increased its stake in Laboratory Corporation of America Holdings by 2.1% in the first quarter. Bank of Montreal Can now owns 192,388 shares of the medical research company’s stock valued at $27,602,000 after buying an additional 3,970 shares during the last quarter. Murphy Capital Management Inc. purchased a new stake in Laboratory Corporation of America Holdings during the first quarter valued at $215,000. National Pension Service increased its stake in Laboratory Corporation of America Holdings by 0.8% in the first quarter. National Pension Service now owns 89,705 shares of the medical research company’s stock valued at $12,916,000 after buying an additional 751 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in Laboratory Corporation of America Holdings by 9.4% in the first quarter. Gulf International Bank UK Ltd now owns 32,581 shares of the medical research company’s stock valued at $4,674,000 after buying an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.
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).
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