Laboratory Co. of America (NYSE:LH – Get Free Report) is scheduled to release its earnings data before the market opens on Thursday, October 26th. Analysts expect Laboratory Co. of America to post earnings of $3.40 per share for the quarter. Laboratory Co. of America has set its FY23 guidance at $13.00 to $14.00 EPS and its FY 2023 guidance at $13.00-$14.00 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.
Laboratory Co. of America (NYSE:LH – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The medical research company reported $3.42 earnings per share for the quarter, missing the consensus estimate of $3.47 by ($0.05). The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.77 billion. Laboratory Co. of America had a net margin of 5.89% and a return on equity of 14.62%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.96 earnings per share. On average, analysts expect Laboratory Co. of America to post $14 EPS for the current fiscal year and $15 EPS for the next fiscal year.
Laboratory Co. of America Price Performance
Laboratory Co. of America stock opened at $201.75 on Thursday. The business has a 50 day simple moving average of $206.50 and a 200 day simple moving average of $216.78. Laboratory Co. of America has a one year low of $172.18 and a one year high of $222.33. The company has a market capitalization of $17.88 billion, a PE ratio of 21.76 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 2.12.
Laboratory Co. of America Announces Dividend
Insiders Place Their Bets
In related news, Director Kerrii B. Anderson sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $211.57, for a total value of $1,057,850.00. Following the sale, the director now directly owns 15,275 shares of the company’s stock, valued at approximately $3,231,731.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.65% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in LH. Horizon Investments LLC raised its stake in shares of Laboratory Co. of America by 7.8% during the 2nd quarter. Horizon Investments LLC now owns 1,217 shares of the medical research company’s stock worth $251,000 after purchasing an additional 88 shares in the last quarter. Lido Advisors LLC acquired a new stake in Laboratory Co. of America in the first quarter valued at $232,000. Prelude Capital Management LLC bought a new position in shares of Laboratory Co. of America in the 2nd quarter valued at about $229,000. Cibc World Market Inc. acquired a new position in shares of Laboratory Co. of America during the 1st quarter worth about $213,000. Finally, Laurel Wealth Advisors Inc. bought a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $209,000. Institutional investors and hedge funds own 89.37% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on LH. Wells Fargo & Company decreased their target price on Laboratory Co. of America from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday, August 14th. Robert W. Baird lowered their price objective on shares of Laboratory Co. of America from $251.00 to $237.00 and set an “outperform” rating for the company in a research report on Monday, September 18th. Morgan Stanley reduced their target price on shares of Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. Mizuho reissued a “buy” rating and issued a $257.00 price target on shares of Laboratory Co. of America in a report on Friday, September 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $270.00 price objective on shares of Laboratory Co. of America in a report on Friday, September 15th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.55.
Read Our Latest Stock Analysis on Laboratory Co. of America
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 and Labcorp Drug Development.
Read More
- Five stocks we like better than Laboratory Co. of America
- What is the Hang Seng index?
- Dollar Tree Won’t Be Trading At a Discount For Much Longer
- How to Invest in Energy
- ASML Holding is a Great Buy but at a Cheaper Price
- What is Insider Trading? What You Can Learn from Insider Trading
- Oversold and Overextended, Abbott Laboratories is a Great Buy
Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.
