Laboratory Co. of America Holdings (NYSE:LH) Expected to Earn Q3 2024 Earnings of $3.50 Per Share

Laboratory Co. of America Holdings (NYSE:LH) – Investment analysts at William Blair cut their Q3 2024 earnings estimates for Laboratory Co. of America in a research report issued on Monday, August 5th. William Blair analyst A. Brackmann now expects that the medical research company will post earnings per share of $3.50 for the quarter, down from their previous forecast of $3.78. The consensus estimate for Laboratory Co. of America’s current full-year earnings is $14.84 per share. William Blair also issued estimates for Laboratory Co. of America’s Q4 2024 earnings at $3.48 EPS and Q4 2025 earnings at $4.06 EPS.

Other equities analysts also recently issued reports about the stock. UBS Group lifted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial lifted their target price on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Finally, Evercore ISI boosted their price target on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a research note on Tuesday, July 9th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $249.15.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $224.74 on Wednesday. The company’s 50-day moving average price is $207.57 and its 200-day moving average price is $210.54. 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 company has a market cap of $18.95 billion, a P/E ratio of 45.22, a P/E/G ratio of 1.76 and a beta of 1.05. Laboratory Co. of America has a twelve month low of $191.97 and a twelve month high of $238.46.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.16. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm posted $3.42 earnings per share.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the transaction, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the sale, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total transaction of $421,660.00. Following the sale, the executive vice president now owns 5,637 shares of the company’s stock, valued at approximately $1,188,448.71. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Laboratory Co. of America

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in Laboratory Co. of America by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock valued at $25,012,000 after purchasing an additional 2,934 shares during the last quarter. Northern Trust Corp raised its position in Laboratory Co. of America by 3.0% in the 4th quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock valued at $264,396,000 after purchasing an additional 33,493 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Laboratory Co. of America by 17.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock valued at $22,069,000 after purchasing an additional 14,708 shares during the last quarter. Bank of Nova Scotia raised its position in Laboratory Co. of America by 1,715.7% in the 4th quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock valued at $39,814,000 after purchasing an additional 165,528 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Laboratory Co. of America by 283.1% during the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after buying an additional 17,156 shares during 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).