Labcorp (NYSE:LH) EVP Sells $201,084.18 in Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Kathryn Kyle sold 762 shares of Labcorp stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $263.89, for a total transaction of $201,084.18. Following the completion of the sale, the executive vice president directly owned 3,813 shares in the company, valued at approximately $1,006,212.57. This represents a 16.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Stock Up 3.4%

Labcorp stock opened at $270.99 on Wednesday. The firm has a 50 day moving average price of $262.74 and a 200-day moving average price of $265.74. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a twelve month low of $241.81 and a twelve month high of $293.72. The company has a market capitalization of $22.22 billion, a P/E ratio of 24.00, a P/E/G ratio of 1.83 and a beta of 0.90.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the firm posted $3.84 EPS. Labcorp’s revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities analysts predict that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th 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 1.1%. The ex-dividend date of this dividend is Friday, May 29th. Labcorp’s dividend payout ratio is currently 25.51%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird set a $334.00 price objective on Labcorp in a research note on Friday, May 1st. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Piper Sandler upped their price target on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Finally, Evercore reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $308.00.

Institutional Trading of Labcorp

A number of institutional investors have recently added to or reduced their stakes in LH. UBS Group AG lifted its stake in Labcorp by 2.2% in the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock worth $124,320,000 after purchasing an additional 10,706 shares in the last quarter. Dakota Wealth Management grew its position in shares of Labcorp by 98.6% during the 3rd quarter. Dakota Wealth Management now owns 10,303 shares of the medical research company’s stock valued at $2,958,000 after purchasing an additional 5,116 shares in the last quarter. Cinctive Capital Management LP bought a new position in shares of Labcorp in the third quarter worth $3,297,000. 8 Knots Management LLC raised its position in shares of Labcorp by 96.6% in the third quarter. 8 Knots Management LLC now owns 204,859 shares of the medical research company’s stock worth $58,807,000 after buying an additional 100,675 shares in the last quarter. Finally, Persistent Asset Partners Ltd raised its position in shares of Labcorp by 90.0% in the third quarter. Persistent Asset Partners Ltd now owns 8,994 shares of the medical research company’s stock worth $2,582,000 after buying an additional 4,260 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Company Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.