Laboratory Corp. of America (NYSE:LH) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $11.05-11.45 for the period, compared to the Thomson Reuters consensus estimate of $11.21. The company issued revenue guidance of $11.39-11.61 billion, compared to the consensus revenue estimate of $11.48 billion.
Shares of LH traded up $1.09 on Wednesday, hitting $167.46. The company’s stock had a trading volume of 587,900 shares, compared to its average volume of 841,550. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14. Laboratory Corp. of America has a fifty-two week low of $119.38 and a fifty-two week high of $190.35. The firm has a market capitalization of $16.39 billion, a PE ratio of 15.20, a P/E/G ratio of 1.70 and a beta of 1.15.
Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Tuesday, April 30th. The medical research company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.09. Laboratory Corp. of America had a return on equity of 16.59% and a net margin of 8.59%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm posted $2.78 EPS. The business’s revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that Laboratory Corp. of America will post 11.27 EPS for the current fiscal year.
A number of equities analysts have weighed in on LH shares. Wolfe Research started coverage on Laboratory Corp. of America in a research report on Tuesday, April 2nd. They set an underperform rating for the company. Credit Suisse Group increased their price objective on Laboratory Corp. of America from $160.00 to $164.00 and gave the company an outperform rating in a report on Wednesday, February 27th. Jefferies Financial Group raised Laboratory Corp. of America from a hold rating to a buy rating and increased their price objective for the company from $154.00 to $190.00 in a report on Tuesday, April 2nd. Zacks Investment Research raised Laboratory Corp. of America from a sell rating to a hold rating in a report on Wednesday, January 23rd. Finally, UBS Group set a $178.00 price objective on Laboratory Corp. of America and gave the company a buy rating in a report on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $179.33.
In other news, insider Lisa J. Uthgenannt sold 4,000 shares of Laboratory Corp. of America stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $164.00, for a total transaction of $656,000.00. Following the sale, the insider now directly owns 4,638 shares of the company’s stock, valued at $760,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Sanders Williams sold 500 shares of Laboratory Corp. of America stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $162.20, for a total value of $81,100.00. Following the sale, the director now directly owns 7,386 shares in the company, valued at $1,198,009.20. The disclosure for this sale can be found here. Insiders sold 8,200 shares of company stock worth $1,352,410 over the last ninety days. 0.74% of the stock is currently owned by insiders.
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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