Laboratory Co. of America (LH) to Release Quarterly Earnings on Thursday

Laboratory Co. of America (NYSE:LH) will be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $3.47 per share for the quarter. Laboratory Co. of America has set its FY24 guidance at $14.30-$15.40 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter last year, the firm posted $4.14 earnings per share. The firm’s revenue was down 17.5% on a year-over-year basis. On average, analysts expect Laboratory Co. of America to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Laboratory Co. of America Trading Up 0.8 %

NYSE LH opened at $203.07 on Tuesday. The business has a 50 day simple moving average of $213.25 and a 200 day simple moving average of $214.81. Laboratory Co. of America has a one year low of $174.20 and a one year high of $234.09. The stock has a market capitalization of $17.08 billion, a P/E ratio of 43.48, a P/E/G ratio of 1.51 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be issued a $0.72 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.88 annualized dividend and a yield of 1.42%. Laboratory Co. of America’s payout ratio is currently 61.67%.

Analyst Ratings Changes

Several research analysts have issued reports on LH shares. Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Monday, March 25th. SVB Leerink assumed coverage on Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price on the stock. TheStreet lowered Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Finally, Barclays assumed coverage on Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.50.

Insider Buying and Selling

In related news, CMO Amy B. Summy sold 227 shares of Laboratory Co. of America stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $49,588.15. Following the sale, the chief marketing officer now directly owns 3,859 shares in the company, valued at $842,998.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at $1,729,398.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Amy B. Summy sold 227 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the sale, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at $842,998.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,305 shares of company stock worth $11,761,059. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Company Profile

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).