Amy Summy Sells 924 Shares of Labcorp (NYSE:LH) Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Amy Summy sold 924 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total transaction of $283,427.76. Following the completion of the sale, the executive vice president directly owned 6,956 shares in the company, valued at approximately $2,133,683.44. This trade represents a 11.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Labcorp Stock Performance

Labcorp stock opened at $318.73 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average of $280.11 and a 200-day moving average of $272.86. The firm has a market cap of $26.14 billion, a P/E ratio of 26.36, a P/E/G ratio of 1.83 and a beta of 0.87. Labcorp Holdings Inc. has a 1-year low of $244.52 and a 1-year high of $319.94.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.21. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the firm earned $4.35 earnings per share. Labcorp’s quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Sell-side analysts expect that Labcorp Holdings Inc. will post 18.35 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 28th. Labcorp’s dividend payout ratio (DPR) is currently 23.82%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Labcorp by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock worth $2,471,326,000 after purchasing an additional 37,197 shares during the period. Victory Capital Management Inc. increased its stake in shares of Labcorp by 103.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Labcorp by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock valued at $607,241,000 after purchasing an additional 22,170 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Labcorp by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after purchasing an additional 13,775 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Labcorp by 15.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after purchasing an additional 289,029 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LH shares. Truist Financial upped their target price on Labcorp from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. JPMorgan Chase & Co. boosted their price objective on shares of Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Robert W. Baird set a $352.00 price objective on shares of Labcorp in a report on Friday, July 31st. Finally, Piper Sandler raised their target price on shares of Labcorp from $300.00 to $309.00 and gave the stock a “neutral” rating in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.82.

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.