Laboratory Co. of America (LH) Set to Announce Earnings on Thursday

Laboratory Co. of America (NYSE:LH) will release its earnings data before the market opens on Thursday, October 24th. Analysts expect Laboratory Co. of America to post earnings of $3.53 per share for the quarter. Laboratory Co. of America has set its FY24 guidance at $14.30-14.90 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the company earned $3.42 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts expect Laboratory Co. of America to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Laboratory Co. of America Stock Up 0.1 %

Shares of Laboratory Co. of America stock opened at $216.82 on Thursday. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $238.46. The business has a 50-day moving average of $223.17 and a two-hundred day moving average of $211.98. The company has a market capitalization of $18.28 billion, a P/E ratio of 43.63, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.33%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

Insider Buying and Selling at Laboratory Co. of America

In related news, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on LH shares. Jefferies Financial Group upped their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. UBS Group upped their price objective on 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. Piper Sandler assumed coverage on Laboratory Co. of America in a research report on Tuesday, October 1st. They set a “neutral” rating and a $235.00 price objective for the company. Evercore ISI reduced their price target on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.85.

About Laboratory Co. of America

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.