Kerrii Anderson Sells 3,000 Shares of Labcorp (NYSE:LH) Stock

Labcorp Holdings Inc. (NYSE:LH) Director Kerrii Anderson sold 3,000 shares of Labcorp stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $318.02, for a total value of $954,060.00. Following the completion of the sale, the director directly owned 6,563 shares in the company, valued at approximately $2,087,165.26. This represents a 31.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Stock Up 2.7%

NYSE:LH opened at $330.77 on Thursday. The firm has a market capitalization of $26.83 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87. Labcorp Holdings Inc. has a twelve month low of $244.52 and a twelve month high of $331.20. The stock’s 50 day moving average price is $289.75 and its two-hundred day moving average price is $275.91. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69.

Labcorp (NYSE:LH) last released its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the firm posted $4.35 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Equities research analysts expect that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued 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 of this dividend is Friday, August 28th. Labcorp’s dividend payout ratio is presently 23.82%.

Hedge Funds Weigh In On Labcorp

Several large investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised 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 acquiring an additional 2,719,475 shares during the last quarter. Boston Partners acquired a new stake in Labcorp in the fourth quarter valued at $480,271,000. Norges Bank bought a new position in Labcorp during the 4th quarter worth $248,006,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Labcorp during the 2nd quarter worth $168,222,000. Finally, Bank of New York Mellon Corp acquired a new position in Labcorp during the 2nd quarter worth about $142,125,000. 95.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LH has been the topic of several research analyst reports. Robert W. Baird set a $352.00 price objective on shares of Labcorp in a research report on Friday, July 31st. Weiss Ratings raised Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Bank of America increased their target price on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Truist Financial raised their price target on Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.00.

About Labcorp

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.