Labcorp (NYSE:LH) EVP Sells $26,329.48 in Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Kathryn Kyle sold 92 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $26,329.48. Following the sale, the executive vice president directly owned 3,904 shares in the company, valued at approximately $1,117,285.76. This represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Labcorp Price Performance

LH traded down $3.64 on Monday, hitting $283.34. 56,019 shares of the company were exchanged, compared to its average volume of 671,858. Labcorp Holdings Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $293.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. The firm has a market capitalization of $23.23 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 2.01 and a beta of 0.89. The business’s fifty day moving average is $262.24 and its 200 day moving average is $266.27.

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

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp’s payout ratio is currently 25.51%.

Hedge Funds Weigh In On Labcorp

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in Labcorp by 103.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after buying an additional 2,719,475 shares during the last quarter. Boston Partners acquired a new position in shares of Labcorp during the 4th quarter valued at about $480,271,000. Norges Bank acquired a new position in shares of Labcorp during the 4th quarter valued at about $248,006,000. Wellington Management Group LLP lifted its holdings in shares of Labcorp by 15.9% during 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 acquiring an additional 289,029 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Labcorp by 79.1% during the 3rd quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock worth $178,996,000 after acquiring an additional 275,454 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LH has been the subject of several research reports. Robert W. Baird set a $334.00 price target on Labcorp in a research note on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Labcorp from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Evercore reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $308.00.

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.