SunTrust Banks Analysts Cut Earnings Estimates for Laboratory Corporation of America Holdings (LH)

Laboratory Corporation of America Holdings (NYSE:LH) – SunTrust Banks lowered their FY2017 EPS estimates for Laboratory Corporation of America Holdings in a note issued to investors on Wednesday. SunTrust Banks analyst D. Macdonald now anticipates that the medical research company will post earnings per share of $9.56 for the year, down from their prior forecast of $9.60. SunTrust Banks currently has a “Buy” rating and a $190.00 target price on the stock. SunTrust Banks also issued estimates for Laboratory Corporation of America Holdings’ Q4 2017 earnings at $2.41 EPS and Q4 2018 earnings at $2.64 EPS.

Other equities analysts also recently issued reports about the stock. Craig Hallum reiterated a “buy” rating and set a $179.00 price objective (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. ValuEngine downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Credit Suisse Group downgraded shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price objective on the stock. in a research note on Thursday, July 13th. They noted that the move was a valuation call. Barclays PLC reiterated an “overweight” rating and set a $182.00 price objective (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, July 17th. Finally, Zacks Investment Research downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $169.00.

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Shares of Laboratory Corporation of America Holdings (LH) opened at 153.71 on Monday. The company has a market capitalization of $15.65 billion, a PE ratio of 21.53 and a beta of 0.92. The stock has a 50 day moving average price of $151.96 and a 200-day moving average price of $149.63. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.08. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the firm posted $2.25 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC raised its holdings in shares of Laboratory Corporation of America Holdings by 16.5% in the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock worth $109,000 after buying an additional 100 shares during the last quarter. Sun Life Financial INC raised its holdings in shares of Laboratory Corporation of America Holdings by 9,200.0% in the second quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock worth $115,000 after buying an additional 736 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Laboratory Corporation of America Holdings by 83.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock worth $177,000 after buying an additional 523 shares during the last quarter. Hourglass Capital LLC purchased a new position in shares of Laboratory Corporation of America Holdings in the second quarter worth $200,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Laboratory Corporation of America Holdings in the first quarter worth $208,000. 93.39% of the stock is owned by institutional investors and hedge funds.

In other Laboratory Corporation of America Holdings news, CEO David P. King sold 132,713 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total value of $20,843,903.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Sanders Williams sold 3,100 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $156.88, for a total transaction of $486,328.00. Following the completion of the transaction, the director now directly owns 10,073 shares of the company’s stock, valued at approximately $1,580,252.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,000 shares of company stock valued at $33,229,265. 0.90% of the stock is owned by insiders.

Laboratory Corporation of America Holdings Company Profile

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).

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

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