Research Analysts Set Expectations for Laboratory Co. of America Holdings’ Q3 2024 Earnings (NYSE:LH)

Laboratory Co. of America Holdings (NYSE:LH) – Research analysts at Leerink Partnrs increased their Q3 2024 earnings estimates for shares of Laboratory Co. of America in a research note issued to investors on Sunday, September 15th. Leerink Partnrs analyst M. Cherny now expects that the medical research company will earn $3.51 per share for the quarter, up from their previous forecast 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.

A number of other brokerages have also recently commented on LH. JPMorgan Chase & Co. lowered their price objective on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Robert W. Baird increased their price objective on shares of Laboratory Co. of America from $261.00 to $277.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial increased their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Evercore ISI increased their price objective on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a report on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.82.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $227.22 on Wednesday. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of 45.72, a PEG 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. The company’s 50-day moving average price is $222.05 and its 200 day moving average price is $211.46. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

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 analysts’ consensus estimates of $3.78 by $0.16. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.42 EPS.

Hedge Funds Weigh In On Laboratory Co. of America

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in Laboratory Co. of America by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after purchasing an additional 2,934 shares during the period. Northern Trust Corp boosted its holdings in Laboratory Co. of America by 3.0% in the fourth quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock worth $264,396,000 after purchasing an additional 33,493 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Laboratory Co. of America by 17.0% in the first 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 buying an additional 14,708 shares during the last quarter. SG Americas Securities LLC lifted its stake in Laboratory Co. of America by 283.1% in the first quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock valued at $5,072,000 after buying an additional 17,156 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in Laboratory Co. of America by 1,715.7% in the fourth quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock valued at $39,814,000 after buying an additional 165,528 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at $833,273.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at $833,273.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction that occurred on 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 completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,679 shares of company stock worth $6,716,306. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Announces Dividend

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

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).