Laboratory Co. of America (NYSE:LH – Get Free Report) posted its earnings results on Thursday. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.22, Briefing.com reports. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. Laboratory Co. of America’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $3.82 earnings per share. Laboratory Co. of America updated its FY 2024 guidance to 14.450-15.350 EPS and its FY24 guidance to $14.45-15.35 EPS.
Laboratory Co. of America Stock Down 0.2 %
Shares of LH stock traded down $0.47 during trading hours on Friday, reaching $197.88. 578,489 shares of the company’s stock were exchanged, compared to its average volume of 753,670. Laboratory Co. of America has a 1 year low of $174.20 and a 1 year high of $234.09. The stock has a market cap of $16.65 billion, a PE ratio of 42.55, a PEG ratio of 1.56 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average price is $212.06 and its two-hundred day moving average price is $214.69.
Laboratory Co. of America Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.46%. Laboratory Co. of America’s payout ratio is 61.67%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on Laboratory Co. of America
Insider Transactions at Laboratory Co. of America
In related news, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the sale, the chief marketing officer now owns 3,859 shares in the company, valued at $842,998.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the sale, the chief marketing officer now owns 3,859 shares in the company, valued at $842,998.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the sale, the chief financial officer now owns 23,595 shares in the company, valued at approximately $5,095,812.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,305 shares of company stock worth $11,761,059. Insiders own 0.85% of the company’s stock.
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).
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