Labcorp (NYSE:LH) CEO Adam Schechter Sells 4,669 Shares

Labcorp Holdings Inc. (NYSE:LH) CEO Adam Schechter sold 4,669 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total value of $1,495,807.53. Following the transaction, the chief executive officer directly owned 102,565 shares in the company, valued at $32,858,749.05. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Trading Down 0.1%

Shares of LH traded down $0.37 during trading hours on Wednesday, hitting $322.05. The company had a trading volume of 181,116 shares, compared to its average volume of 683,533. Labcorp Holdings Inc. has a 52-week low of $244.52 and a 52-week high of $323.97. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $282.70 and its 200 day moving average price is $273.60. The firm has a market cap of $26.12 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.86 and a beta of 0.87.

Labcorp (NYSE:LH) last issued its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share 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 analysts’ expectations of $3.71 billion. During the same period in the prior year, the business posted $4.35 EPS. Labcorp’s quarterly revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, research analysts predict that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.72 per share. 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 23.82%.

Institutional Investors Weigh In On Labcorp

A number of large investors have recently modified their holdings of LH. Madison Asset Management LLC bought a new position in Labcorp in the second quarter worth about $133,460,000. Great Lakes Advisors LLC purchased a new stake in Labcorp in the second quarter worth about $5,847,000. Trust Co. of Vermont bought a new stake in Labcorp during the 2nd quarter valued at approximately $665,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Labcorp during the 2nd quarter valued at approximately $168,222,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of Labcorp during the 2nd quarter worth approximately $678,000. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $306.00 price target on shares of Labcorp in a report on Friday, July 31st. Robert W. Baird set a $352.00 price target on shares of Labcorp in a report on Friday, July 31st. Weiss Ratings upgraded shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Finally, Morgan Stanley upped their price objective on shares of Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Labcorp 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.