I noticed something very strange and will have to see if it repeats. I have given Veronica a modded LEAR with lots of MC ammo. Like other other weapons she might use in combat, the LEAR did not suffer any loss of health. Then I recently removed it from her inventory and it immediately lost all health and needed to be restored with a Laser RCW or Plasma rifle. Just wondering if anyone else noticed something similar.

Well, companions don't reduce item health when they use stuff.

Then I have no explanation why/how the LEAR went from full health to health simply by removing it from Veronica's inventory. When I gave it back to her, it still had zero health.

LAER has only 75HP(Same as Plasma Rifle's HP). This is why any companions get lose item hp very quickly.

Either Elijah's advanced LAER has only 50 HP(Same as Tri-beam laser rifle and Multipals rifle's). The best way is bring companion with Raul's Full Maintenance perk(if you holding your LEAR) or use burk ammunition.

As I can tell from my game any weapons or clothing/armor I give to a companion takes no hit in its condition even when I take it back.

Either I'm the one with the bug or you are.

OP is the one with the bug; companions don't loose item HP.

I've given companions plenty of things over my games, when ever I've taken them back, they're in the condition they were when I gave them to the companion.

Same here, until the LEAR+.

More than likely just a bugged item, I haven't experienced this but I've never given the weapon in question to any of my companions either.