Equities analysts expect that Laboratory Co. of America Holdings (NYSE:LH) will announce sales of $3.58 billion for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Laboratory Co. of America’s earnings, with the lowest sales estimate coming in at $3.46 billion and the highest estimate coming in at $3.71 billion. Laboratory Co. of America posted sales of $3.90 billion during the same quarter last year, which would indicate a negative year over year growth rate of 8.2%. The business is scheduled to issue its next earnings report on Tuesday, October 26th.
According to Zacks, analysts expect that Laboratory Co. of America will report full-year sales of $15.15 billion for the current fiscal year, with estimates ranging from $14.96 billion to $15.37 billion. For the next financial year, analysts forecast that the firm will post sales of $14.08 billion, with estimates ranging from $13.69 billion to $14.72 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Laboratory Co. of America.
Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Wednesday, July 28th. The medical research company reported $6.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.64 by $0.49. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Laboratory Co. of America had a net margin of 17.57% and a return on equity of 35.18%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Laboratory Co. of America by 1,250.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Laboratory Co. of America in the 2nd quarter worth $31,000. Grant Street Asset Management Inc. grew its stake in shares of Laboratory Co. of America by 101.3% in the 1st quarter. Grant Street Asset Management Inc. now owns 157 shares of the medical research company’s stock worth $40,000 after buying an additional 79 shares in the last quarter. Lee Financial Co purchased a new position in shares of Laboratory Co. of America in the 2nd quarter worth $57,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Laboratory Co. of America by 22.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 219 shares of the medical research company’s stock worth $56,000 after buying an additional 40 shares in the last quarter. Institutional investors own 88.29% of the company’s stock.
Shares of NYSE:LH traded down $0.66 during trading on Tuesday, reaching $296.80. 528,467 shares of the stock traded hands, compared to its average volume of 675,469. The stock has a 50-day moving average of $294.79 and a two-hundred day moving average of $272.36. Laboratory Co. of America has a 52-week low of $176.49 and a 52-week high of $309.60. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.13. The stock has a market cap of $28.61 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.
Laboratory Co. of America Company Profile
Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.
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