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

Laboratory Co. of America (NYSE:LH) is set to announce its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $3.53 per share for the quarter. Laboratory Co. of America has set its FY24 guidance at $14.30-14.90 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

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

Shares of LH stock opened at $220.51 on Wednesday. Laboratory Co. of America has a 12 month low of $191.97 and a 12 month high of $238.46. The company has a market capitalization of $18.59 billion, a P/E ratio of 44.37, a P/E/G ratio of 1.67 and a beta of 1.05. The stock has a 50 day moving average of $222.50 and a two-hundred day moving average of $212.08. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.31%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LH shares. Jefferies Financial Group boosted their price target on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Robert W. Baird increased their price target on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Evercore ISI cut their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, Piper Sandler assumed coverage on Laboratory Co. of America in a research report on Tuesday, October 1st. They set a “neutral” rating and a $235.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $251.85.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $225.00, for a total value of $131,850.00. Following the transaction, the director now owns 14,722 shares in the company, valued at $3,312,450. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,679 shares of company stock worth $6,716,306. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.