Truist Securiti Analysts Raise Earnings Estimates for Laboratory Co. of America Holdings (NYSE:LH)


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Laboratory Co. of America Holdings (NYSE:LH) – Equities research analysts at Truist Securiti raised their Q2 2021 earnings per share estimates for shares of Laboratory Co. of America in a research note issued to investors on Friday, April 30th. Truist Securiti analyst D. Macdonald now expects that the medical research company will post earnings per share of $5.70 for the quarter, up from their prior estimate of $5.50. Truist Securiti also issued estimates for Laboratory Co. of America’s Q3 2021 earnings at $4.11 EPS, Q4 2021 earnings at $3.69 EPS and FY2022 earnings at $16.20 EPS.

LH has been the topic of several other research reports. Jefferies Financial Group raised their target price on Laboratory Co. of America from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Monday. Truist Securities raised their target price on Laboratory Co. of America from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, April 20th. Truist raised their target price on Laboratory Co. of America from $300.00 to $320.00 in a research report on Monday. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $245.00 target price for the company in a research note on Monday, January 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Laboratory Co. of America from $261.00 to $279.00 and gave the company an “overweight” rating in a research note on Friday, February 12th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $256.69.

Shares of LH stock opened at $273.58 on Monday. The company has a market capitalization of $26.71 billion, a P/E ratio of 31.85, a P/E/G ratio of 1.15 and a beta of 1.09. The business’s 50 day moving average is $254.65 and its two-hundred day moving average is $225.74. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 0.67. Laboratory Co. of America has a 12-month low of $155.19 and a 12-month high of $274.13.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Wednesday, April 28th. The medical research company reported $8.79 EPS for the quarter, topping the consensus estimate of $7.32 by $1.47. Laboratory Co. of America had a return on equity of 21.05% and a net margin of 6.79%.

In related news, CAO Peter J. Wilkinson sold 2,317 shares of the business’s stock in a transaction dated Thursday, February 18th. The stock was sold at an average price of $241.51, for a total value of $559,578.67. Following the completion of the sale, the chief accounting officer now directly owns 710 shares of the company’s stock, valued at $171,472.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark S. Schroeder sold 667 shares of the business’s stock in a transaction dated Tuesday, March 30th. The shares were sold at an average price of $251.88, for a total value of $168,003.96. Following the completion of the sale, the executive vice president now directly owns 5,006 shares of the company’s stock, valued at $1,260,911.28. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of LH. Norges Bank acquired a new position in Laboratory Co. of America in the fourth quarter valued at approximately $185,229,000. Veritas Investment Partners UK Ltd. acquired a new position in shares of Laboratory Co. of America during the fourth quarter worth approximately $151,974,000. Assenagon Asset Management S.A. acquired a new position in shares of Laboratory Co. of America during the fourth quarter worth approximately $101,866,000. Morgan Stanley boosted its position in shares of Laboratory Co. of America by 56.6% during the fourth quarter. Morgan Stanley now owns 1,214,677 shares of the medical research company’s stock worth $247,247,000 after buying an additional 439,086 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Laboratory Co. of America by 1,237.2% during the fourth quarter. Renaissance Technologies LLC now owns 335,705 shares of the medical research company’s stock worth $68,333,000 after buying an additional 310,600 shares during the period. Institutional investors own 89.31% of the company’s stock.

Laboratory Co. of America Company Profile

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.

Further Reading: Dividend Reinvestment Plan (DRIP)

Earnings History and Estimates for Laboratory Co. of America (NYSE:LH)

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