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, 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.Individual interested in registering for the company’s earnings conference call can do so using this link.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.29 by $0.01. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.02 billion. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The company’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter last year, the business posted $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

NYSE LH opened at $207.92 on Wednesday. The company’s 50 day simple moving average is $212.94 and its two-hundred day simple moving average is $214.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. Laboratory Co. of America has a 1 year low of $174.20 and a 1 year high of $234.09. The stock has a market capitalization of $17.49 billion, a PE ratio of 44.52, a P/E/G ratio of 1.51 and a beta of 1.01.

Laboratory Co. of America Dividend Announcement

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

Insider Transactions at Laboratory Co. of America

In related news, COO Mark S. Schroeder sold 6,477 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the sale, the chief operating officer now owns 5,036 shares in the company, valued at $1,094,272.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was 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 in the company, valued at $5,095,812.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark S. Schroeder sold 6,477 shares of Laboratory Co. of America stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $1,407,387.33. Following the completion of the transaction, the chief operating officer now directly owns 5,036 shares in the company, valued at $1,094,272.44. The disclosure for this sale can be found here. Insiders sold a total of 54,305 shares of company stock valued at $11,761,059 over the last three months. 0.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LH shares. TheStreet lowered shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Evercore ISI assumed coverage on Laboratory Co. of America in a report on Friday, February 9th. They set an “in-line” rating and a $240.00 price target for the company. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Barclays assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 price objective for the company. 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 target on the stock. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $243.50.

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).