Leerink Partnrs Comments on Laboratory Co. of America Holdings’ Q2 2024 Earnings (NYSE:LH)

Laboratory Co. of America Holdings (NYSE:LH) – Investment analysts at Leerink Partnrs decreased their Q2 2024 earnings per share (EPS) estimates for shares of Laboratory Co. of America in a report issued on Thursday, April 25th. Leerink Partnrs analyst M. Cherny now expects that the medical research company will post earnings per share of $3.72 for the quarter, down from their previous forecast of $3.82. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Laboratory Co. of America’s current full-year earnings is $14.84 per share. Leerink Partnrs also issued estimates for Laboratory Co. of America’s Q4 2024 earnings at $3.48 EPS.

Other equities analysts have also recently issued reports about the stock. Evercore ISI started coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They issued an “in-line” rating and a $240.00 target price for the company. Barclays initiated coverage on Laboratory Co. of America in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 target price for the company. Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Monday, March 25th. TheStreet downgraded Laboratory Co. of America from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Finally, SVB Leerink assumed coverage on Laboratory Co. of America in a research note on Monday, February 26th. They set an “outperform” rating and a $260.00 target price for the company. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.94.

Laboratory Co. of America Stock Down 4.6 %

LH stock opened at $198.35 on Friday. Laboratory Co. of America has a 52 week low of $174.20 and a 52 week high of $234.09. The business has a 50-day simple moving average of $212.06 and a 200 day simple moving average of $214.69. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.52. The company has a market cap of $16.69 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.22. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $3.82 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LH. Raymond James Financial Services Advisors Inc. raised its position in shares of Laboratory Co. of America by 5.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock worth $5,097,000 after purchasing an additional 1,237 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Laboratory Co. of America by 6.0% during the third quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock valued at $1,711,000 after buying an additional 484 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in shares of Laboratory Co. of America during the fourth quarter worth about $1,091,000. Cerity Partners LLC raised its holdings in shares of Laboratory Co. of America by 8.6% in the 4th quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock worth $14,645,000 after acquiring an additional 5,105 shares during the last quarter. Finally, Duality Advisers LP acquired a new position in Laboratory Co. of America during the 4th quarter valued at about $2,786,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $760,515.00. Following the sale, the chief marketing officer now owns 3,975 shares of the company’s stock, valued at $863,727.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.29, for a total value of $760,515.00. Following the completion of the sale, the chief marketing officer now directly owns 3,975 shares in the company, valued at $863,727.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total value of $53,668.65. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,729,398.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,305 shares of company stock valued at $11,761,059. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s payout ratio is presently 61.67%.

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).