Q3 2024 EPS Estimates for Laboratory Co. of America Holdings Lowered by Analyst (NYSE:LH)

Laboratory Co. of America Holdings (NYSE:LH) – Equities researchers at Leerink Partnrs decreased their Q3 2024 earnings per share (EPS) estimates for shares of Laboratory Co. of America in a report released on Thursday, April 25th. Leerink Partnrs analyst M. Cherny now anticipates that the medical research company will post earnings per share of $3.69 for the quarter, down from their previous estimate of $3.82. Leerink Partnrs 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 posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.22. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the company earned $3.82 earnings per share.

A number of other research analysts have also commented on the stock. TheStreet lowered shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. SVB Leerink initiated coverage on Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target on the stock. Evercore ISI assumed coverage on Laboratory Co. of America in a report on Friday, February 9th. They set an “in-line” rating and a $240.00 price objective for the company. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Monday, March 25th. Finally, Truist Financial cut their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $243.14.

Laboratory Co. of America Price Performance

LH stock opened at $198.40 on Monday. The firm has a 50 day moving average of $211.70 and a 200-day moving average of $214.85. The company has a current ratio of 0.88, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $16.69 billion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. Laboratory Co. of America has a 12 month low of $174.20 and a 12 month high of $234.09.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,048 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $1,102,735.60. Following the transaction, the chief operating officer now directly owns 5,036 shares of the company’s stock, valued at approximately $1,100,114.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the completion of the sale, the executive vice president now directly owns 7,637 shares in the company, valued at $1,695,872.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Mark S. Schroeder sold 5,048 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $1,102,735.60. Following the transaction, the chief operating officer now owns 5,036 shares in the company, valued at approximately $1,100,114.20. The disclosure for this sale can be found here. Insiders sold a total of 54,305 shares of company stock worth $11,761,059 over the last three months. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

Several institutional investors and hedge funds have recently bought and sold shares of LH. Exchange Traded Concepts LLC purchased a new stake in Laboratory Co. of America in the third quarter worth $37,000. UMB Bank n.a. lifted its position in shares of Laboratory Co. of America by 22.1% in the 3rd quarter. UMB Bank n.a. now owns 315 shares of the medical research company’s stock worth $63,000 after purchasing an additional 57 shares during the period. Czech National Bank boosted its stake in shares of Laboratory Co. of America by 47.7% during the 3rd quarter. Czech National Bank now owns 15,486 shares of the medical research company’s stock valued at $3,113,000 after purchasing an additional 4,998 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Laboratory Co. of America by 7.7% during the third quarter. Asset Management One Co. Ltd. now owns 37,359 shares of the medical research company’s stock valued at $7,511,000 after buying an additional 2,664 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in Laboratory Co. of America by 218.6% in the third quarter. Handelsbanken Fonder AB now owns 43,620 shares of the medical research company’s stock worth $8,770,000 after buying an additional 29,928 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

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).