Analysts Offer Predictions for Laboratory Co. of America Holdings’ Q2 2022 Earnings (NYSE:LH)

Laboratory Co. of America Holdings (NYSE:LHGet Rating) – Equities research analysts at Jefferies Financial Group lowered their Q2 2022 earnings estimates for shares of Laboratory Co. of America in a research report issued to clients and investors on Sunday, June 19th. Jefferies Financial Group analyst B. Tanquilut now anticipates that the medical research company will post earnings of $4.60 per share for the quarter, down from their prior forecast of $5.05. The consensus estimate for Laboratory Co. of America’s current full-year earnings is $19.80 per share. Jefferies Financial Group also issued estimates for Laboratory Co. of America’s Q3 2022 earnings at $4.50 EPS, Q4 2022 earnings at $4.54 EPS, FY2022 earnings at $19.78 EPS and FY2023 earnings at $18.15 EPS.

Laboratory Co. of America (NYSE:LHGet Rating) last posted its earnings results on Thursday, April 28th. The medical research company reported $6.11 EPS for the quarter, topping analysts’ consensus estimates of $5.88 by $0.23. Laboratory Co. of America had a net margin of 13.24% and a return on equity of 23.84%. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm posted $8.79 EPS. The firm’s revenue was down 7.1% on a year-over-year basis.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Laboratory Co. of America from $294.00 to $265.00 in a report on Tuesday, May 3rd. StockNews.com started coverage on shares of Laboratory Co. of America in a report on Thursday, March 31st. They set a “buy” rating on the stock. Credit Suisse Group reduced their price objective on shares of Laboratory Co. of America from $344.00 to $312.00 in a research report on Monday, May 2nd. Truist Financial reduced their price objective on shares of Laboratory Co. of America from $350.00 to $320.00 in a research report on Friday, April 29th. Finally, Wells Fargo & Company reduced their price objective on shares of Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating on the stock in a research report on Monday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $297.72.

Shares of LH stock opened at $226.22 on Tuesday. Laboratory Co. of America has a 1 year low of $212.40 and a 1 year high of $317.17. The firm has a fifty day moving average price of $247.27 and a 200-day moving average price of $268.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.81. The company has a market cap of $20.97 billion, a price-to-earnings ratio of 10.38 and a beta of 1.04.

Institutional investors and hedge funds have recently modified their holdings of the business. Condor Capital Management increased its position in shares of Laboratory Co. of America by 0.4% during the 4th quarter. Condor Capital Management now owns 9,835 shares of the medical research company’s stock worth $3,090,000 after purchasing an additional 37 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Laboratory Co. of America by 0.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,241 shares of the medical research company’s stock worth $2,589,000 after purchasing an additional 41 shares during the last quarter. RMB Capital Management LLC increased its position in shares of Laboratory Co. of America by 4.9% during the 1st quarter. RMB Capital Management LLC now owns 879 shares of the medical research company’s stock worth $232,000 after purchasing an additional 41 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Laboratory Co. of America by 3.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,122 shares of the medical research company’s stock worth $296,000 after purchasing an additional 41 shares during the last quarter. Finally, Trust Investment Advisors boosted its holdings in Laboratory Co. of America by 1.8% during the 4th quarter. Trust Investment Advisors now owns 2,395 shares of the medical research company’s stock valued at $753,000 after acquiring an additional 42 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Mark S. Schroeder sold 2,356 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $277.11, for a total value of $652,871.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Sanders Williams sold 572 shares of the firm’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $272.98, for a total value of $156,144.56. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th were given a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $2.88 annualized dividend and a yield of 1.27%. Laboratory Co. of America’s dividend payout ratio is presently 13.22%.

About Laboratory Co. of America (Get Rating)

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.

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

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