Brokers Offer Predictions for Laboratory Co. of America Holdings’ Q2 2024 Earnings (NYSE:LH)

Laboratory Co. of America Holdings (NYSE:LH) – Stock analysts at Leerink Partnrs dropped their Q2 2024 earnings per share estimates for shares of Laboratory Co. of America in a research note issued on Thursday, April 25th. Leerink Partnrs analyst M. Cherny now forecasts that the medical research company will earn $3.72 per share 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 $14.84 per share. Leerink Partnrs also issued estimates for Laboratory Co. of America’s Q4 2024 earnings at $3.48 EPS.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating the consensus estimate of $3.46 by $0.22. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. Laboratory Co. of America’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $3.82 earnings per share.

LH has been the subject of a number of other research reports. Robert W. Baird cut their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research report on Friday. SVB Leerink started coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective on the stock. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Monday, March 25th. Evercore ISI initiated coverage on Laboratory Co. of America in a research note on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective on the stock. Finally, Barclays began coverage on Laboratory Co. of America in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.94.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $198.35 on Friday. The firm has a market capitalization of $16.69 billion, a PE ratio of 42.47, a P/E/G ratio of 1.56 and a beta of 1.01. The company has a 50 day moving average price of $212.06 and a 200-day moving average price of $214.69. Laboratory Co. of America has a 52 week low of $174.20 and a 52 week high of $234.09. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.52.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. Laboratory Co. of America’s dividend payout ratio (DPR) is 61.67%.

Insider Activity

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the completion of the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,729,398.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Amy B. Summy sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $760,515.00. Following the transaction, the chief marketing officer now owns 3,975 shares of the company’s stock, valued at approximately $863,727.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 owns 7,637 shares of the company’s stock, valued at $1,729,398.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,305 shares of company stock worth $11,761,059. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Laboratory Co. of America

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its holdings in Laboratory Co. of America by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock valued at $5,097,000 after purchasing an additional 1,237 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Laboratory Co. of America by 6.0% during the third quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock valued at $1,711,000 after buying an additional 484 shares during the period. Handelsinvest Investeringsforvaltning bought a new position in shares of Laboratory Co. of America during the fourth quarter valued at approximately $1,091,000. Cerity Partners LLC raised its holdings in shares of Laboratory Co. of America by 8.6% in the fourth quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock worth $14,645,000 after buying an additional 5,105 shares during the period. Finally, Duality Advisers LP bought a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $2,786,000. 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).