Q3 2024 Earnings Estimate for Laboratory Co. of America Holdings Issued By Leerink Partnrs (NYSE:LH)

Laboratory Co. of America Holdings (NYSE:LH) – Equities research analysts at Leerink Partnrs boosted their Q3 2024 earnings per share (EPS) estimates for Laboratory Co. of America in a research note issued to investors on Sunday, September 15th. Leerink Partnrs analyst M. Cherny now anticipates 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.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.42 EPS.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. cut their price target on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Barclays increased their price target on Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, UBS Group increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $250.82.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $224.59 on Wednesday. The company has a market capitalization of $18.93 billion, a PE ratio of 45.19, a P/E/G ratio of 1.68 and a beta of 1.06. The company has a 50 day simple moving average of $222.42 and a two-hundred day simple moving average of $211.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. Laboratory Co. of America has a fifty-two week low of $191.97 and a fifty-two week high of $238.46.

Hedge Funds Weigh In On Laboratory Co. of America

Several large investors have recently bought and sold shares of the stock. Industrial Alliance Investment Management Inc. purchased a new stake in Laboratory Co. of America in the 2nd quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new stake in Laboratory Co. of America in the 1st quarter worth about $30,000. Innealta Capital LLC purchased a new position in Laboratory Co. of America during the 2nd quarter valued at about $32,000. Family Firm Inc. purchased a new position in Laboratory Co. of America during the 2nd quarter valued at about $37,000. Finally, McClarren Financial Advisors Inc. grew its holdings in Laboratory Co. of America by 313.2% during the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock valued at $48,000 after buying an additional 166 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the transaction, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. The disclosure for this sale can be found here. Insiders have sold a total of 29,679 shares of company stock worth $6,716,306 in the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio is currently 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).