Laboratory Co. of America (NYSE:LH) Releases FY24 Earnings Guidance

Laboratory Co. of America (NYSE:LH) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $14.45-15.35 for the period, compared to the consensus estimate of $14.84. Laboratory Co. of America also updated its FY 2024 guidance to 14.450-15.350 EPS.

Laboratory Co. of America Stock Down 0.0 %

Shares of NYSE LH opened at $207.94 on Thursday. Laboratory Co. of America has a one year low of $174.20 and a one year high of $234.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. The firm’s 50 day simple moving average is $212.54 and its two-hundred day simple moving average is $214.80. The stock has a market capitalization of $17.49 billion, a P/E ratio of 44.53, a PEG ratio of 1.56 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the business earned $4.14 earnings per share. The business’s quarterly revenue was down 17.5% on a year-over-year basis. As a group, analysts expect that Laboratory Co. of America will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is 61.67%.

Analyst Ratings Changes

Several research analysts have recently issued reports on LH shares. Argus upgraded shares of Laboratory Co. of America from a hold rating to a buy rating and set a $250.00 target price on the stock in a report on Monday, March 25th. TheStreet cut shares of Laboratory Co. of America from a b- rating to a c+ rating in a report on Thursday, February 15th. SVB Leerink initiated coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They issued an outperform rating and a $260.00 target price on the stock. Barclays initiated coverage on shares of Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an equal weight rating and a $222.00 price target on the stock. Finally, Evercore ISI initiated coverage on shares of Laboratory Co. of America in a report on Friday, February 9th. They issued an in-line rating and a $240.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $243.50.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the completion of the transaction, the chief financial officer now owns 23,595 shares of the company’s stock, valued at $5,095,812.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Jonathan P. Divincenzo sold 500 shares of Laboratory Co. of America stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $215.49, for a total value of $107,745.00. Following the completion of the transaction, the executive vice president now owns 3,401 shares of the company’s stock, valued at approximately $732,881.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 34,504 shares of Laboratory Co. of America stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the transaction, the chief financial officer now directly owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The disclosure for this sale can be found here. Over 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 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).