Leerink Partnrs Analysts Decrease Earnings Estimates for LH

Laboratory Co. of America Holdings (NYSE:LH) – Analysts at Leerink Partnrs decreased their FY2024 earnings estimates for shares of Laboratory Co. of America in a report issued on Monday, January 6th. Leerink Partnrs analyst M. Cherny now expects that the medical research company will earn $14.53 per share for the year, down from their previous estimate of $14.59. The consensus estimate for Laboratory Co. of America’s current full-year earnings is $14.52 per share. Leerink Partnrs also issued estimates for Laboratory Co. of America’s Q1 2025 earnings at $3.84 EPS.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm earned $3.38 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the company. Bank of America upped their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Barclays lifted their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Morgan Stanley raised their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average price target of $260.54.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $234.18 on Wednesday. The company has a market cap of $19.59 billion, a P/E ratio of 45.30, a PEG ratio of 1.91 and a beta of 1.06. The company has a 50-day moving average price of $234.37 and a 200 day moving average price of $224.25. Laboratory Co. of America has a 52 week low of $191.97 and a 52 week high of $247.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.23%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares in the company, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,572 shares of company stock worth $6,145,209. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Laboratory Co. of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SouthState Corp acquired a new stake in shares of Laboratory Co. of America during the third quarter valued at approximately $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America during the 3rd quarter worth about $29,000. Riverview Trust Co grew its position in Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares in the last quarter. Concord Wealth Partners grew its holdings in shares of Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 52 shares in the last quarter. Finally, Kennebec Savings Bank acquired a new position in Laboratory Co. of America in the 3rd quarter worth about $42,000. 95.94% of the stock is owned by institutional investors and hedge funds.

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.