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

Laboratory Co. of America Holdings (NYSE:LH) – Stock analysts at Leerink Partnrs boosted their Q3 2024 earnings per share estimates for shares of Laboratory Co. of America in a report issued on Sunday, September 15th. Leerink Partnrs analyst M. Cherny now anticipates that the medical research company will post earnings of $3.51 per share for the quarter, up from their previous estimate of $3.29. The consensus estimate for Laboratory Co. of America’s current full-year earnings is $14.67 per share. Leerink Partnrs also issued estimates for Laboratory Co. of America’s Q4 2024 earnings at $3.45 EPS, FY2025 earnings at $15.63 EPS, FY2026 earnings at $17.86 EPS and FY2027 earnings at $20.09 EPS.

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

Other research analysts have also issued research reports about the company. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. UBS Group upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report 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 company a “buy” rating in a report on Friday, August 2nd. Evercore ISI lifted their price objective on Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. Finally, Robert W. Baird increased their target price on Laboratory Co. of America from $261.00 to $277.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $250.82.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $227.01 on Wednesday. The stock’s 50-day moving average price is $221.52 and its 200 day moving average price is $211.35. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $19.14 billion, a PE ratio of 45.68, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06. Laboratory Co. of America has a 52-week low of $191.97 and a 52-week high of $238.46.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a $0.72 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.27%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the sale, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the sale, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The disclosure for this sale can be found here. Insiders sold a total of 29,679 shares of company stock valued at $6,716,306 in the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Laboratory Co. of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. grew its holdings in Laboratory Co. of America by 25.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock valued at $396,771,000 after purchasing an additional 395,197 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Laboratory Co. of America by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after purchasing an additional 597,571 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Laboratory Co. of America by 135.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after buying an additional 924,881 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Laboratory Co. of America by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,645 shares of the medical research company’s stock worth $288,519,000 after buying an additional 33,497 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Laboratory Co. of America in the 4th quarter worth $291,045,000. 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).