Laboratory Co. of America (NYSE:LH - Get Free Report) will release its earnings data before the market opens on Thursday, April 25th. Analysts expect Laboratory Co. of America to post earnings of $3.47 per share for the quarter. Laboratory Co. of America has set its FY24 guidance at $14.30-$15.40 EPS.Persons interested in registering for the company's earnings conference call can do so using this link.
Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the firm earned $4.14 earnings per share. The company's revenue was down 17.5% on a year-over-year basis. 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 Performance
LH traded down $0.53 on Thursday, reaching $199.44. The company had a trading volume of 768,808 shares, compared to its average volume of 736,675. The stock has a market cap of $16.78 billion, a P/E ratio of 42.71, a P/E/G ratio of 1.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.17. Laboratory Co. of America has a fifty-two week low of $174.20 and a fifty-two week high of $234.09. The company's fifty day moving average is $214.63 and its 200 day moving average is $214.69.
Laboratory Co. of America Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America's payout ratio is 61.67%.
Insider Transactions at Laboratory Co. of America
In related news, EVP Der Vaart Sandra D. Van sold 237 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the transaction, the executive vice president now owns 7,637 shares of the company's stock, valued at approximately $1,729,398.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $760,515.00. Following the sale, the chief marketing officer now directly owns 3,975 shares of the company's stock, valued at $863,727.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the transaction, the executive vice president now directly owns 7,637 shares of the company's stock, valued at approximately $1,729,398.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,305 shares of company stock valued at $11,761,059. 0.85% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Laboratory Co. of America
A number of institutional investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC lifted its holdings in shares of Laboratory Co. of America by 0.6% during the fourth quarter. Neuberger Berman Group LLC now owns 7,834 shares of the medical research company's stock worth $1,845,000 after purchasing an additional 48 shares during the period. Guardian Wealth Management Inc. grew its position in shares of Laboratory Co. of America by 1.0% in the 1st quarter. Guardian Wealth Management Inc. now owns 5,379 shares of the medical research company's stock valued at $1,418,000 after buying an additional 52 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Laboratory Co. of America by 3.2% in the first quarter. HBK Sorce Advisory LLC now owns 1,976 shares of the medical research company's stock valued at $691,000 after buying an additional 62 shares during the period. Kinneret Advisory LLC raised its position in shares of Laboratory Co. of America by 2.3% during the first quarter. Kinneret Advisory LLC now owns 2,922 shares of the medical research company's stock worth $770,000 after acquiring an additional 65 shares during the last quarter. Finally, Colony Group LLC lifted its stake in shares of Laboratory Co. of America by 0.5% in the first quarter. Colony Group LLC now owns 13,698 shares of the medical research company's stock worth $3,143,000 after acquiring an additional 66 shares during the period. 95.94% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
LH has been the subject of several recent research reports. Argus upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating and set a $250.00 price target for the company in a research note on Monday, March 25th. Leerink Partnrs restated an "outperform" rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Evercore ISI assumed coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They issued an "in-line" rating and a $240.00 price objective for the company. SVB Leerink began coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They set an "outperform" rating and a $260.00 target price on the stock. Finally, Barclays began coverage on shares of Laboratory Co. of America in a research report on Wednesday, January 3rd. They issued an "equal weight" rating and a $222.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.50.
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About Laboratory Co. of America
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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).
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