Brokerages expect Laboratory Corporation of America Holdings (NYSE:LH) to announce $2.56 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Laboratory Corporation of America Holdings’ earnings, with the highest sales estimate coming in at $2.64 billion and the lowest estimate coming in at $2.53 billion. Laboratory Corporation of America Holdings reported sales of $2.41 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.2%. The company is expected to issue its next earnings report before the market opens on Wednesday, October 25th.

According to Zacks, analysts expect that Laboratory Corporation of America Holdings will report full year sales of $2.56 billion for the current financial year, with estimates ranging from $9.96 billion to $10.39 billion. For the next year, analysts forecast that the business will report sales of $10.95 billion per share, with estimates ranging from $10.41 billion to $11.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Laboratory Corporation of America Holdings.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share for the quarter, beating the 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 firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm posted $2.36 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year.

Several research analysts have commented on LH shares. Craig Hallum restated a “buy” rating and issued a $179.00 price objective (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Robert W. Baird restated a “hold” rating and issued a $166.00 price objective on shares of Laboratory Corporation of America Holdings in a report on Tuesday. Wells Fargo & Co started coverage on shares of Laboratory Corporation of America Holdings in a report on Thursday, October 12th. They issued an “outperform” rating and a $175.00 price objective for the company. Morgan Stanley upped their price objective on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $170.31.

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In other Laboratory Corporation of America Holdings news, CEO David P. King sold 132,713 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total transaction of $20,843,903.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,968 shares of company stock valued at $34,980,922. 0.90% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Regentatlantic Capital LLC increased its stake in Laboratory Corporation of America Holdings by 0.5% during the 2nd quarter. Regentatlantic Capital LLC now owns 1,696 shares of the medical research company’s stock valued at $261,000 after purchasing an additional 8 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Laboratory Corporation of America Holdings by 0.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,411 shares of the medical research company’s stock valued at $346,000 after purchasing an additional 15 shares in the last quarter. New Amsterdam Partners LLC NY increased its stake in Laboratory Corporation of America Holdings by 0.7% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 3,847 shares of the medical research company’s stock valued at $593,000 after purchasing an additional 27 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Laboratory Corporation of America Holdings by 0.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,143 shares of the medical research company’s stock valued at $594,000 after purchasing an additional 31 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. increased its stake in Laboratory Corporation of America Holdings by 0.6% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 7,703 shares of the medical research company’s stock valued at $1,186,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

Laboratory Corporation of America Holdings (NYSE:LH) traded up 0.18% during midday trading on Friday, reaching $151.59. 258,636 shares of the company’s stock traded hands. The company’s 50-day moving average price is $152.91 and its 200-day moving average price is $149.04. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $164.22. The stock has a market cap of $15.43 billion, a P/E ratio of 21.23 and a beta of 0.92.

About Laboratory Corporation of America Holdings

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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Earnings History and Estimates for Laboratory Corporation of America Holdings (NYSE:LH)

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