Zacks: brokers expect Laboratory Co. of America Holdings (NYSE: LH) to post quarterly sales of $ 3.83 billion
Wall Street analysts predict that Laboratory Co. of America Holdings (NYSE: LH) will post sales of $ 3.83 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have released earnings estimates for Laboratory Co. of America. The highest sales estimate is $ 3.87 billion and the lowest is $ 3.74 billion. Laboratory Co. of America reported sales of $ 4.49 billion in the same quarter last year, which would suggest a negative growth rate of 14.7% year-over-year. The company is expected to report its next quarterly results on Thursday, February 10.
On average, analysts expect Laboratory Co. of America to report annual revenue of $ 15.93 billion for the current year, with estimates ranging from $ 15.81 billion to $ 16 billion. , $ 14 billion. For the next fiscal year, analysts predict the company will post revenue of $ 14.41 billion, with estimates ranging from $ 13.90 billion to $ 15.44 billion. Zacks’ sales calculations are an average based on a survey of seller-side research analysts who provide coverage for Laboratory Co. of America.
Laboratory Co. of America (NYSE: LH) last announced its results on Wednesday, October 27. The medical research firm reported EPS of $ 6.82 for the quarter, beating analyst consensus estimates of $ 4.92 by $ 1.90. Laboratory Co. of America reported a return on equity of 31.56% and a net margin of 16.69%. The company posted revenue of $ 4.06 billion in the quarter, compared to $ 3.63 billion expected by analysts. During the same period last year, the company posted EPS of $ 8.41. Laboratory Co. of America’s revenue for the quarter increased 4.3% year-over-year.
LH has been the subject of a number of analyst reports. Mizuho raised his price target on Laboratory Co. of America from $ 332.00 to $ 354.00 and gave the company a “buy” rating in a research report released on Monday, December 20. Credit Suisse Group increased its price target for Laboratory Co. of America from $ 336.00 to $ 338.00 and gave the company an “outperformance” rating in a research report released on Monday, November 1. Wells Fargo & Company raised its target price on Laboratory Co. of America from $ 330.00 to $ 340.00 and rated the stock “overweight” in a research report published Tuesday, December 14. Zacks Investment Research upgraded 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 research report released on Tuesday, November 2. Finally, Morgan Stanley raised its Laboratory Co. of America price target from $ 377.00 to $ 380.00 and rated the stock “overweight” in a research report published on Friday, December 17. Thirteen research analysts rated the stock with a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $ 324.52.
LH stock opened at $ 314.21 on Friday. The company has a debt to equity ratio of 0.52, a current ratio of 2.08, and a quick ratio of 1.94. The company has a market cap of $ 30.07 billion, a P / E ratio of 11.15, a P / E / G ratio of 1.04 and a beta of 1.01. The company’s 50-day moving average is $ 292.08 and its two-hundred-day moving average is $ 288.93. Laboratory Co. of America has a one-year low of $ 200.46 and a one-year high of $ 317.17.
In other Laboratory Co. of America news, Director Dwight Gary Gilliland sold 500 shares of Laboratory Co. of America in a transaction that took place on Wednesday, December 15. The stock was sold for an average price of $ 302.26, for a total value of $ 151,130.00. The sale was disclosed in a filing with the SEC, accessible through the SEC’s website. Company insiders own 0.31% of the company’s shares.
Several institutional investors have recently bought and sold shares of LH. Assetmark Inc. increased its stake in the shares of Laboratory Co. of America by 1,085.6% in the third quarter. Assetmark Inc. now owns 397,425 shares of the medical research company valued at $ 111,851,000 after purchasing an additional 363,904 shares during the last quarter. Farallon Capital Management LLC acquired a new position in Laboratory Co. of America during the third quarter valued at $ 100,156,000. 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 purchasing an additional 263,760 shares in the last quarter. Amundi acquired a new position in Laboratory Co. of America during the second quarter for an amount of $ 63,750,000. Finally, Renaissance Technologies LLC increased its stake in Laboratory Co. of America by 133.9% during the third quarter. Renaissance Technologies LLC now owns 403,505 shares of the medical research company valued at $ 113,562,000 after purchasing an additional 230,982 shares during the last quarter. Hedge funds and other institutional investors hold 88.03% of the company’s shares.
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 the Drug Development and Diagnostics segments. The Drug Development segment includes lead optimization, preclinical safety assessment, analytical services, clinical trials, central labs, companion biomarkers and diagnostics, market access, and technology solutions.
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