Laboratory Co. of America (NYSE:LH - Get Free Report) issued its earnings results on Thursday. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.02, RTT News reports. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.38 earnings per share. Laboratory Co. of America updated its FY 2024 guidance to 14.300-14.700 EPS.
Laboratory Co. of America Price Performance
Shares of LH traded up $10.17 during midday trading on Thursday, hitting $230.07. 1,610,091 shares of the company traded hands, compared to its average volume of 668,219. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week high of $239.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. The firm has a 50 day moving average of $222.47 and a 200-day moving average of $212.14. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 46.29, a PEG ratio of 1.67 and a beta of 1.05.
Laboratory Co. of America Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.25%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America's payout ratio is currently 57.95%.
Analyst Upgrades and Downgrades
LH has been the subject of several recent analyst reports. Barclays decreased their price target on Laboratory Co. of America from $249.00 to $234.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 16th. Piper Sandler initiated coverage on shares of Laboratory Co. of America in a research note on Tuesday, October 1st. They set a "neutral" rating and a $235.00 target price on the stock. Truist Financial lifted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Finally, Bank of America lifted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $251.85.
Check Out Our Latest Stock Report on Laboratory Co. of America
Insider Buying and Selling
In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the transaction, the executive vice president now owns 3,670 shares in the company, valued at $833,273.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now owns 3,670 shares of the company's stock, valued at $833,273.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America 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 completion of the transaction, the chief financial officer now directly owns 31,289 shares of the company's stock, valued at $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,679 shares of company stock worth $6,716,306. Corporate insiders own 0.85% of the company's stock.
About Laboratory Co. of America
(
Get Free Report)
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.
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