Brokerages expect Laboratory Corp. of America Holdings (NYSE:LH) to report $2.90 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Laboratory Corp. of America’s earnings, with estimates ranging from $2.88 billion to $2.92 billion. Laboratory Corp. of America posted sales of $2.83 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.5%. The business is expected to announce its next earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Laboratory Corp. of America will report full year sales of $11.46 billion for the current fiscal year, with estimates ranging from $11.43 billion to $11.49 billion. For the next year, analysts forecast that the firm will report sales of $11.89 billion, with estimates ranging from $11.73 billion to $12.07 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.03. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the firm earned $2.98 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year.

A number of research analysts recently issued reports on LH shares. ValuEngine downgraded Viewray from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Zacks Investment Research cut G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Deutsche Bank reiterated a “buy” rating and set a GBX 2,450 ($32.01) price target on shares of in a research report on Thursday, June 20th. Canaccord Genuity reiterated a “buy” rating and set a $10.00 price target on shares of Chembio Diagnostics in a research report on Thursday, May 2nd. Finally, Bank of America raised First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price objective on the stock in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. Laboratory Corp. of America presently has an average rating of “Buy” and an average target price of $183.54.

Shares of NYSE:LH traded down $5.24 during mid-day trading on Tuesday, reaching $166.53. 1,475,967 shares of the company traded hands, compared to its average volume of 642,381. The stock’s 50 day simple moving average is $171.74. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.52 and a beta of 1.04. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.94. Laboratory Corp. of America has a 52 week low of $119.38 and a 52 week high of $182.75.

In other news, insider Lisa J. Uthgenannt sold 4,000 shares of Laboratory Corp. of America 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 sale, the insider now directly owns 4,638 shares of the company’s stock, valued at $760,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 500 shares of Laboratory Corp. of America stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $162.20, for a total value of $81,100.00. Following the completion of the sale, the director now directly owns 7,386 shares in the company, valued at $1,198,009.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,191 shares of company stock worth $4,948,144. 0.74% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of LH. Norges Bank acquired a new stake in shares of Laboratory Corp. of America in the fourth quarter worth approximately $120,695,000. FMR LLC boosted its stake in shares of Laboratory Corp. of America by 81.4% in the first quarter. FMR LLC now owns 1,596,659 shares of the medical research company’s stock worth $244,257,000 after acquiring an additional 716,703 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Laboratory Corp. of America by 2.6% in the first quarter. BlackRock Inc. now owns 10,029,286 shares of the medical research company’s stock worth $1,534,283,000 after acquiring an additional 257,173 shares during the last quarter. Fairview Capital Investment Management LLC acquired a new stake in shares of Laboratory Corp. of America in the first quarter worth approximately $34,081,000. Finally, Iridian Asset Management LLC CT boosted its stake in shares of Laboratory Corp. of America by 30.0% in the first quarter. Iridian Asset Management LLC CT now owns 937,092 shares of the medical research company’s stock worth $143,356,000 after acquiring an additional 216,449 shares during the last quarter. 91.48% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Laboratory Corp. of America (NYSE:LH)

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