Laboratory Co. of America (NYSE:LH – Get Free Report) issued its quarterly earnings results on Thursday. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02, RTT News reports. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business 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 Stock Up 7.9 %
LH stock traded up $17.35 during trading on Thursday, reaching $237.25. The stock had a trading volume of 497,605 shares, compared to its average volume of 662,815. The company has a market capitalization of $20.00 billion, a price-to-earnings ratio of 47.04, a P/E/G ratio of 1.67 and a beta of 1.05. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average is $222.47 and its two-hundred day moving average is $212.14. Laboratory Co. of America has a one year low of $191.97 and a one year high of $238.46.
Laboratory Co. of America Dividend Announcement
The business also recently declared 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. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is currently 57.95%.
Analysts Set New Price Targets
Insider Activity at Laboratory Co. of America
In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the transaction, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is owned by insiders.
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.
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