Laboratory Corp. of America (NYSE:LH) Updates FY 2020 Pre-Market Earnings Guidance

Laboratory Corp. of America (NYSE:LH) issued an update on its FY 2020
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share guidance of 11.75-12.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $11.98. The company issued revenue guidance of $12.012-12.243 billion, compared to the consensus revenue estimate of $11.94 billion.Laboratory Corp. of America also updated its FY20 guidance to $11.75-$12.15 EPS.

Shares of Laboratory Corp. of America stock traded up $0.55 during midday trading on Friday, reaching $195.28. The company had a trading volume of 624,203 shares, compared to its average volume of 701,471. The stock has a fifty day moving average price of $176.75 and a 200 day moving average price of $170.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.17 and a quick ratio of 1.08. The firm has a market cap of $17.82 billion, a PE ratio of 25.69, a P/E/G ratio of 1.81 and a beta of 1.07. Laboratory Corp. of America has a fifty-two week low of $140.53 and a fifty-two week high of $196.36.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.86 EPS for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.06. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.92 billion. Laboratory Corp. of America had a return on equity of 15.33% and a net margin of 6.63%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.52 earnings per share. As a group, sell-side analysts forecast that Laboratory Corp. of America will post 11.25 EPS for the current year.

A number of equities analysts recently commented on LH shares. Bank of America lowered Laboratory Corp. of America from a neutral rating to an underperform rating in a research note on Friday, January 3rd. ValuEngine lowered Laboratory Corp. of America from a hold rating to a sell rating in a research note on Tuesday, December 3rd. Piper Sandler boosted their price target on Laboratory Corp. of America from to in a research note on Thursday. Canaccord Genuity reissued a hold rating and issued a $170.00 price target on shares of Laboratory Corp. of America in a research note on Thursday, October 24th. Finally, UBS Group dropped their price target on Laboratory Corp. of America from $204.00 to $200.00 and set a buy rating on the stock in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $193.19.

In other news, SVP Der Vaart Sandra D. Van sold 208 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $188.49, for a total transaction of $39,205.92. Following the transaction, the senior vice president now directly owns 2,819 shares of the company’s stock, valued at $531,353.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark S. Schroeder sold 188 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $188.49, for a total value of $35,436.12. Following the transaction, the executive vice president now directly owns 533 shares in the company, valued at $100,465.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 637 shares of company stock worth $118,502. Insiders own 0.74% of the company’s stock.

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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