$3.58 Billion in Sales Expected for Laboratory Co. of America Holdings (NYSE:LH) This Quarter

Analysts expect Laboratory Co. of America Holdings (NYSE:LH) to report sales of $3.58 billion for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Laboratory Co. of America’s earnings. The lowest sales estimate is $3.46 billion and the highest is $3.71 billion. Laboratory Co. of America reported sales of $3.90 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 8.2%. The company is scheduled to issue its next quarterly earnings results on Tuesday, October 26th.

On average, analysts expect that Laboratory Co. of America will report full-year sales of $15.15 billion for the current year, with estimates ranging from $14.96 billion to $15.37 billion. For the next year, analysts forecast that the business will post sales of $14.08 billion, with estimates ranging from $13.69 billion to $14.72 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Laboratory Co. of America.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, July 28th. The medical research company reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.64 by $0.49. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.59 billion. Laboratory Co. of America had a return on equity of 35.18% and a net margin of 17.57%.

A number of equities research analysts recently commented on the stock. Credit Suisse Group lifted their price target on shares of Laboratory Co. of America from $295.00 to $336.00 and gave the stock an “outperform” rating in a report on Friday, August 20th. Truist Securities lifted their price target on shares of Laboratory Co. of America from $330.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Robert W. Baird set a $276.78 price target on shares of Laboratory Co. of America and gave the stock a “buy” rating in a report on Wednesday, July 21st. Argus lifted their price target on shares of Laboratory Co. of America from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, May 20th. Finally, Truist lifted their price target on shares of Laboratory Co. of America from $330.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, July 30th. They noted that the move was a valuation call. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Laboratory Co. of America has a consensus rating of “Buy” and an average price target of $314.52.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Laboratory Co. of America by 5.3% during the 2nd quarter. Bank of America Corp DE now owns 1,671,057 shares of the medical research company’s stock valued at $460,962,000 after purchasing an additional 84,172 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Laboratory Co. of America by 5.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 331,638 shares of the medical research company’s stock valued at $91,482,000 after purchasing an additional 17,908 shares in the last quarter. Endurant Capital Management LP grew its position in shares of Laboratory Co. of America by 39.1% during the 2nd quarter. Endurant Capital Management LP now owns 62,919 shares of the medical research company’s stock valued at $17,356,000 after purchasing an additional 17,695 shares in the last quarter. Marshall Wace LLP grew its position in shares of Laboratory Co. of America by 982.6% during the 2nd quarter. Marshall Wace LLP now owns 28,116 shares of the medical research company’s stock valued at $7,755,000 after purchasing an additional 25,519 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its position in shares of Laboratory Co. of America by 480.1% during the 2nd quarter. Marshall Wace North America L.P. now owns 31,292 shares of the medical research company’s stock valued at $8,631,000 after purchasing an additional 25,898 shares in the last quarter. Hedge funds and other institutional investors own 88.29% of the company’s stock.

Shares of Laboratory Co. of America stock traded down $0.66 during mid-day trading on Tuesday, hitting $296.80. 528,467 shares of the stock were exchanged, compared to its average volume of 675,469. Laboratory Co. of America has a 12 month low of $176.49 and a 12 month high of $309.60. The company has a 50-day simple moving average of $294.79 and a 200 day simple moving average of $272.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.13. The company has a market capitalization of $28.61 billion, a P/E ratio of 10.13, a P/E/G ratio of 1.21 and a beta of 1.04.

Laboratory Co. of America Company Profile

Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.

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

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