Brian Caveney Sells 1,500 Shares of Labcorp (NYSE:LH) Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Brian Caveney sold 1,500 shares of Labcorp stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the sale, the executive vice president owned 30,107 shares of the company’s stock, valued at approximately $8,619,935.17. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Labcorp Stock Up 1.6%

Shares of LH opened at $287.33 on Thursday. The firm has a market cap of $23.82 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.96 and a beta of 1.03. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. The company’s fifty day moving average is $267.06 and its two-hundred day moving average is $269.73.

Labcorp (NYSE:LH) last released its quarterly earnings data on Tuesday, February 17th. The medical research company reported $4.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.12. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the business earned $3.45 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s payout ratio is 27.53%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LH. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. upped their price target on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. UBS Group cut their price target on Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Piper Sandler lifted their price target on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Robert W. Baird increased their price objective on shares of Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.42.

Institutional Trading of Labcorp

Several institutional investors and hedge funds have recently modified their holdings of LH. REAP Financial Group LLC lifted its position in Labcorp by 20.4% during the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 37 shares during the last quarter. SP Asset Management LLC boosted its holdings in Labcorp by 0.3% in the second quarter. SP Asset Management LLC now owns 14,177 shares of the medical research company’s stock valued at $3,722,000 after acquiring an additional 38 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of Labcorp by 4.3% during the 3rd quarter. HBK Sorce Advisory LLC now owns 916 shares of the medical research company’s stock valued at $254,000 after buying an additional 38 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in shares of Labcorp by 3.9% during the third quarter. Pure Financial Advisors LLC now owns 1,017 shares of the medical research company’s stock valued at $292,000 after purchasing an additional 38 shares during the last quarter. Finally, Zions Bancorporation National Association UT boosted its holdings in Labcorp by 21.9% in the second quarter. Zions Bancorporation National Association UT now owns 223 shares of the medical research company’s stock worth $59,000 after acquiring an additional 40 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

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.