Wall Street analysts expect that Laboratory Co. of America Holdings (NYSE:LH – Get Rating) will post sales of $3.84 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Laboratory Co. of America’s earnings, with estimates ranging from $3.74 billion to $4.02 billion. Laboratory Co. of America also reported sales of $3.84 billion during the same quarter last year. The business is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Laboratory Co. of America will report full year sales of $15.41 billion for the current financial year, with estimates ranging from $15.28 billion to $15.63 billion. For the next financial year, analysts expect that the company will report sales of $15.37 billion, with estimates ranging from $14.64 billion to $15.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Laboratory Co. of America.
Laboratory Co. of America (NYSE:LH – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The medical research company reported $6.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.23. Laboratory Co. of America had a return on equity of 23.84% and a net margin of 13.24%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company posted $8.79 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis.
In other Laboratory Co. of America news, EVP Mark S. Schroeder sold 2,356 shares of the business’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $277.11, for a total value of $652,871.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Amy B. Summy sold 249 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $262.21, for a total transaction of $65,290.29. The disclosure for this sale can be found here. Insiders have sold a total of 3,177 shares of company stock valued at $874,306 over the last 90 days. Insiders own 0.31% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in LH. BlackRock Inc. grew its stake in shares of Laboratory Co. of America by 15.7% during the 1st quarter. BlackRock Inc. now owns 9,576,779 shares of the medical research company’s stock valued at $2,525,014,000 after buying an additional 1,302,369 shares during the period. Norges Bank purchased a new stake in Laboratory Co. of America during the 4th quarter worth $297,582,000. Assetmark Inc. boosted its position in Laboratory Co. of America by 1,085.6% during the 3rd quarter. Assetmark Inc. now owns 397,425 shares of the medical research company’s stock worth $111,851,000 after purchasing an additional 363,904 shares during the period. Farallon Capital Management LLC purchased a new stake in Laboratory Co. of America during the 3rd quarter worth $100,156,000. Finally, Renaissance Technologies LLC boosted its position in Laboratory Co. of America by 133.9% during the 3rd quarter. Renaissance Technologies LLC now owns 403,505 shares of the medical research company’s stock worth $113,562,000 after purchasing an additional 230,982 shares during the period. 92.02% of the stock is owned by institutional investors.
NYSE LH opened at $249.15 on Wednesday. The company has a quick ratio of 1.81, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. Laboratory Co. of America has a 52-week low of $232.01 and a 52-week high of $317.17. The business’s 50-day moving average price is $260.49 and its 200 day moving average price is $274.80. The firm has a market cap of $23.10 billion, a P/E ratio of 11.43 and a beta of 1.04.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Thursday, May 19th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.16%. Laboratory Co. of America’s payout ratio is 13.22%.
About Laboratory Co. of America (Get Rating)
Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various 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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