Laboratory Co. of America Holdings (NYSE:LH) is expected to report quarterly sales of $3.90 billion
Analysts expect Laboratory Co. of America Holdings (NYSE: LH) to post revenue of $3.90 billion for the current quarter, according to Zacks. Six analysts provided earnings estimates for Laboratory Co. of America, with the highest sales estimate at $4.06 billion and the lowest estimate at $3.74 billion. Laboratory Co. of America posted sales of $4.49 billion in the same quarter last year, which would indicate a negative 13.1% year-over-year growth rate. The company is expected to release its next quarterly earnings report before market open on Thursday, February 10.
According to Zacks, analysts expect Laboratory Co. of America to report annual sales of $16.00 billion for the current year, with estimates ranging from $15.81 billion to $16.23 billion. of dollars. For the next fiscal year, analysts expect the company to record sales of $14.58 billion, with estimates ranging from $13.90 billion to $15.76 billion. Zacks sales calculations are an average based on a survey of research companies that cover Laboratory Co. of America.
Laboratory Co. of America (NYSE:LH) last released quarterly earnings data on Wednesday, October 27. The medical research company reported earnings per share of $6.82 for the quarter, beating Thomson Reuters consensus estimate of $4.92 by $1.90. Laboratory Co. of America achieved a net margin of 16.69% and a return on equity of 31.56%. The company posted revenue of $4.06 billion in the quarter, versus $3.63 billion expected by analysts. In the same period a year earlier, the company posted earnings per share of $8.41. Laboratory Co. of America’s revenue for the quarter increased 4.3% compared to the same quarter last year.
LH has been the subject of a number of recent research reports. Wells Fargo & Company raised its price target on shares of Laboratory Co. of America from $330.00 to $340.00 and gave the stock an “overweight” rating in a Tuesday, Dec. 14 report. Mizuho raised its price target on shares of Laboratory Co. of America from $332.00 to $354.00 and gave the stock a “buy” rating in a Monday, Dec. 20 research note. Zacks Investment Research upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a target price of $304.00 on the stock in a Tuesday, November 2 research note. . Morgan Stanley raised its price target on shares of Laboratory Co. of America from $377.00 to $380.00 and gave the stock an “overweight” rating in a Friday, Dec. 17 report. Finally, Credit Suisse Group raised its price target on shares of Laboratory Co. of America from $336.00 to $338.00 and gave the company an “outperform” rating in a Monday, Nov. 1, report. . Twelve equity research analysts rated the stock with a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $322.40.
LH opened at $271.57 on Friday. The company has a 50-day moving average price of $291.42 and a 200-day moving average price of $290.17. The company has a market capitalization of $25.99 billion, a price-earnings ratio of 9.64, a PEG ratio of 1.39 and a beta of 1.02. Laboratory Co. of America has a 12-month low of $212.85 and a 12-month high of $317.17. The company has a quick ratio of 1.94, a current ratio of 2.08 and a leverage ratio of 0.52.
Separately, Director Dwight Gary Gilliland sold 500 shares of Laboratory Co. of America in a trade on Wednesday, December 15. The stock was sold at an average price of $302.26, for a total transaction of $151,130.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Insiders of the company own 0.31% of the shares of the company.
Hedge funds have recently been buying and selling shares of the company. Vanguard Group Inc. increased its stake in Laboratory Co. of America by 2.5% during the second quarter. Vanguard Group Inc. now owns 10,895,962 shares of the medical research company valued at $3,005,650,000 after buying an additional 263,760 shares last quarter. State Street Corp increased its position in Laboratory Co. of America by 5.1% during the second quarter. State Street Corp now owns 4,240,381 shares of the medical research company worth $1,169,709,000 after buying an additional 206,018 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Laboratory Co. of America by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,835,046 shares of the medical research company valued at $515,142,000 after purchasing an additional 59,057 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Laboratory Co. of America by 5.3% in the second quarter. Bank of America Corp DE now owns 1,671,057 shares of the medical research company valued at $460,962,000 after purchasing an additional 84,172 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Laboratory Co. of America by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,591,004 shares of the medical research company worth $447,843,000 after purchasing an additional 34,864 shares during the period. 87.56% of the shares are held by hedge funds and other institutional investors.
About Laboratory Co. of America
Laboratory Corp. of America Holdings operates as a life sciences company, committed to providing vital information to help healthcare professionals make clear, confident decisions. It operates through Drug Development and Diagnostics segments. The Drug Development segment includes lead optimization, preclinical safety evaluation, analytical services, clinical trials, central laboratories, biomarkers and companion diagnostics, market access and technology solutions.
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