Laboratory Co. of America (NYSE:LH) Issues Quarterly Earnings Results

Laboratory Co. of America (NYSE:LH) announced its quarterly earnings results on Tuesday. The medical research company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.75 by $0.09, Zacks reports. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%.

Laboratory Co. of America Stock Performance

Shares of NYSE LH opened at $220.85 on Tuesday. The firm has a fifty day moving average price of $234.95 and a 200-day moving average price of $235.38. The stock has a market cap of $18.48 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. Laboratory Co. of America has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.30%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Analyst Ratings Changes

LH has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. UBS Group cut their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Barclays reduced their price objective on shares of Laboratory Co. of America from $260.00 to $240.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Jefferies Financial Group increased their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Redburn Atlantic started coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $268.77.

Insider Buying and Selling at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the transaction, the executive vice president now owns 2,171 shares in the company, valued at $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock valued at $3,518,177 in the last 90 days. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Laboratory Co. of America

An institutional investor recently bought a new position in Laboratory Co. of America stock. Brighton Jones LLC acquired a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,321 shares of the medical research company’s stock, valued at approximately $991,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.