Laboratory Co. of America (NYSE:LH) Issues 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 Up 0.0 %

Shares of NYSE LH traded up $0.05 during mid-day trading on Friday, hitting $198.40. The company had a trading volume of 931,317 shares, compared to its average volume of 745,511. The company has a market capitalization of $16.69 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 1.02. Laboratory Co. of America has a 1-year low of $174.20 and a 1-year high of $234.09. The business’s 50-day simple moving average is $211.70 and its 200 day simple moving average is $214.66.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.22. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $3.82 earnings per share. On average, analysts predict that Laboratory Co. of America will post 14.84 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s payout ratio is currently 57.95%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LH shares. Barclays dropped their target price on Laboratory Co. of America from $234.00 to $213.00 and set an equal weight rating on the stock in a report on Friday. Robert W. Baird dropped their target price on Laboratory Co. of America from $255.00 to $244.00 and set an outperform rating on the stock in a report on Friday. Argus raised 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. Evercore ISI started coverage on Laboratory Co. of America in a report on Friday, February 9th. They issued an in-line rating and a $240.00 target price on the stock. Finally, TheStreet lowered Laboratory Co. of America from a b- rating to a c+ rating in a report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Laboratory Co. of America currently has an average rating of Moderate Buy and a consensus price target of $243.14.

Insider Buying and Selling

In related news, COO Mark S. Schroeder sold 6,477 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the transaction, the chief operating officer now owns 5,036 shares of the company’s stock, valued at $1,094,272.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Mark S. Schroeder sold 6,477 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the transaction, the chief operating officer now owns 5,036 shares of the company’s stock, valued at $1,094,272.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Mark S. Schroeder sold 5,048 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the completion of the sale, the chief operating officer now owns 5,036 shares of the company’s stock, valued at approximately $1,100,114.20. The disclosure for this sale can be found here. Insiders have sold a total of 54,305 shares of company stock valued at $11,761,059 over the last quarter. 0.85% of the stock is currently owned by insiders.

About Laboratory Co. of America

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).