Leerink Partnrs Comments on Laboratory Co. of America Holdings’ Q3 2024 Earnings (NYSE:LH)

Laboratory Co. of America Holdings (NYSE:LH) – Research analysts at Leerink Partnrs lowered their Q3 2024 EPS estimates for shares of Laboratory Co. of America in a report released on Thursday, April 25th. Leerink Partnrs analyst M. Cherny now expects that the medical research company will post earnings per share of $3.69 for the quarter, down from their prior forecast of $3.82. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Laboratory Co. of America’s current full-year earnings is $14.85 per share. Leerink Partnrs also issued estimates for Laboratory Co. of America’s FY2025 earnings at $15.56 EPS.

Several other analysts also recently commented on the stock. Argus upgraded shares of 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 report on Monday, March 25th. Robert W. Baird decreased their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Truist Financial dropped their price target on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Barclays lowered their target price on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $201.37 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The stock has a market cap of $16.94 billion, a P/E ratio of 40.52, a P/E/G ratio of 1.49 and a beta of 1.01. The stock has a 50 day moving average of $211.16 and a two-hundred day moving average of $214.89. Laboratory Co. of America has a twelve month low of $174.20 and a twelve month high of $234.09.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.82 earnings per share.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, May 28th. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

Insider Buying and Selling

In related news, CFO Glenn A. Eisenberg sold 34,504 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 23,595 shares in the company, valued at approximately $5,095,812.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the completion of the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,729,398.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the stock in a transaction that occurred on 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 owns 23,595 shares in the company, valued at $5,095,812.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,305 shares of company stock valued at $11,761,059. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Laboratory Co. of America

A number of large investors have recently bought and sold shares of the stock. Provence Wealth Management Group acquired a new position in shares of Laboratory Co. of America in the third quarter valued at approximately $29,000. Mendota Financial Group LLC purchased a new position in shares of Laboratory Co. of America during the 4th quarter worth $29,000. Tradewinds Capital Management LLC acquired a new stake in shares of Laboratory Co. of America during the third quarter worth $34,000. Exchange Traded Concepts LLC purchased a new stake in shares of Laboratory Co. of America in the third quarter valued at $37,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Laboratory Co. of America in the fourth quarter valued at $60,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

About Laboratory Co. of America

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).