Laboratory Corp. of America Holdings (LH) Releases Earnings Results, Beats Expectations By $0.06 EPS

Laboratory Corp. of America Holdings (LH) reported quarterly earnings results on Monday, Apr-25-2016. The company said it had a profit of $2.02 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $1.96. The company posted revenue of $2295.20 million in the period, compared to analysts expectations of $2184.25 million. The company’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS.

Many Wall Street Analysts have commented on Laboratory Corp. of America Holdings. Laboratory Corp. of America Holdings was Initiated by Credit Suisse to “Outperform” on Mar 16, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 19, 2016 to “Sector Perform” and Lowered the Price Target to $ 130 from a previous price target of $135 .

Laboratory Corp. of America Holdings opened for trading at $121.21 and hit $122.02 on the upside on Friday, eventually ending the session at $121.77, with a gain of 0.64% or 0.77 points. The heightened volatility saw the trading volume jump to 15,43,310 shares. Company has a market cap of $12,384 M.

In a different news, on Mar 15, 2016, James T. Jr. Boyle (EVP,CEO of LabCorp Diagnostics) sold 1,543 shares at $115.32 per share price. According to the SEC, on Mar 15, 2016, F Samuel Iii Eberts (Chief Legal Officer, Secretary) sold 309 shares at $115.32 per share price. On Feb 29, 2016, Jean-luc Belingard (director) sold 1,296 shares at $109.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Laboratory Corporation of America Holdings is an independent clinical laboratory company in the United States. Through a national network of laboratories the Company offers a range of clinical laboratory tests that are used by the medical profession in core testing patient diagnosis and in the monitoring and treatment of disease. The Company manages its operations through two segments: the Clinical diagnostics laboratory segment which includes core testing as well as genomic and esoteric testing; and the Other segment which consists of the Company’s non-United States clinical diagnostic laboratory operations in Ontario Canada. It also provides specialty testing services in the areas of allergy clinical trials diagnostic genetics women’s health cardiovascular disease identity forensics infectious disease endocrinology oncology coagulation occupational testing and pain management.

Laboratory Corp. of America Holdings

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