Analysts Issue Forecasts for Laboratory Co. of America Holdings’ Q3 2024 Earnings (NYSE:LH)

Laboratory Co. of America Holdings (NYSE:LH) – Equities researchers at Leerink Partnrs decreased their Q3 2024 earnings per share estimates for shares of Laboratory Co. of America in a report released on Thursday, April 25th. Leerink Partnrs analyst M. Cherny now expects that the medical research company will earn $3.69 per share for the quarter, down from their previous forecast of $3.82. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Laboratory Co. of America’s current full-year earnings is $14.85 per share. Leerink Partnrs also issued estimates for Laboratory Co. of America’s FY2025 earnings at $15.56 EPS.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $3.82 EPS.

A number of other analysts also recently issued reports on LH. Barclays decreased their price target on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a report on Friday. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Monday, March 25th. Evercore ISI started coverage on Laboratory Co. of America in a research report on Friday, February 9th. They set an “in-line” rating and a $240.00 target price on the stock. Truist Financial reduced their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a report on Friday. Finally, Robert W. Baird lowered their price objective on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

Laboratory Co. of America Price Performance

LH opened at $204.17 on Monday. The firm has a market cap of $17.18 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 1.49 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average price is $211.45 and its 200 day moving average price is $214.90. Laboratory Co. of America has a 12-month low of $174.20 and a 12-month high of $234.09.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.41%. Laboratory Co. of America’s dividend payout ratio is 57.95%.

Insider Activity at Laboratory Co. of America

In other news, CFO Glenn A. Eisenberg sold 34,504 shares of Laboratory Co. of America stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the sale, the chief financial officer now directly owns 23,595 shares in the company, valued at approximately $5,095,812.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CMO Amy B. Summy sold 227 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were 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 of the company’s stock, valued at $842,998.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the completion of the transaction, the chief financial officer now owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,305 shares of company stock valued at $11,761,059. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Laboratory Co. of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in LH. Manchester Capital Management LLC lifted its position in Laboratory Co. of America by 1.1% in the 4th quarter. Manchester Capital Management LLC now owns 4,159 shares of the medical research company’s stock valued at $945,000 after acquiring an additional 45 shares in the last quarter. Trust Investment Advisors boosted its stake in shares of Laboratory Co. of America by 1.8% during the 4th quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock worth $583,000 after buying an additional 46 shares during the last quarter. SP Asset Management LLC grew its holdings in shares of Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 14,992 shares of the medical research company’s stock valued at $3,407,000 after acquiring an additional 46 shares in the last quarter. Unison Advisors LLC increased its position in shares of Laboratory Co. of America by 0.5% in the first quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock valued at $2,415,000 after acquiring an additional 51 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in Laboratory Co. of America by 2.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,969 shares of the medical research company’s stock worth $448,000 after acquiring an additional 53 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

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).