Laboratory Co. of America (LH) to Release Quarterly Earnings on Thursday

Laboratory Co. of America (NYSE:LH) is set to post its quarterly earnings results 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) last issued its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.29 by $0.01. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.02 billion. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The firm’s quarterly revenue was down 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.14 EPS. 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

Shares of LH opened at $207.92 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. The firm has a market cap of $17.49 billion, a PE ratio of 44.52, a PEG ratio of 1.51 and a beta of 1.01. Laboratory Co. of America has a 1 year low of $174.20 and a 1 year high of $234.09. The stock’s fifty day moving average price is $212.94 and its two-hundred day moving average price is $214.85.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s payout ratio is presently 61.67%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LH shares. Barclays assumed coverage on shares of Laboratory Co. of America in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 price target for the company. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Monday, March 25th. TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, SVB Leerink initiated coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They set an “outperform” rating and a $260.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.50.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the completion of the sale, the chief financial officer now directly owns 23,595 shares of the company’s stock, valued at $5,095,812.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Der Vaart Sandra D. Van sold 259 shares of Laboratory Co. of America stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the completion of the sale, the executive vice president now directly owns 7,637 shares in the company, valued at $1,695,872.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the transaction, the chief financial officer now owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The disclosure for this sale can be found here. Insiders have sold a total of 54,305 shares of company stock valued at $11,761,059 over the last ninety days. 0.85% of the stock is owned by company insiders.

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).