Labcorp (NYSE:LH) EVP Sells 924 Shares of Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Amy Summy sold 924 shares of Labcorp stock in a transaction on Tuesday, August 4th. The shares were 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Labcorp Stock Up 0.6%

Shares of NYSE LH opened at $314.30 on Thursday. The firm has a fifty day simple moving average of $277.86 and a two-hundred day simple moving average of $272.21. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $316.11. 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 market capitalization of $25.77 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm posted $4.35 EPS. The company’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 analysts expect that Labcorp Holdings Inc. will post 18.35 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.9%. Labcorp’s dividend payout ratio is 23.82%.

Institutional Investors Weigh In On Labcorp

Several institutional investors and hedge funds have recently made changes to their positions in LH. UBS Group AG raised its position in Labcorp by 2.2% in the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock worth $124,320,000 after purchasing an additional 10,706 shares during the period. Fifth Third Bancorp lifted its stake in Labcorp by 106.5% in the first quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company’s stock worth $15,470,000 after purchasing an additional 29,899 shares during the last quarter. Geode Capital Management LLC boosted its position 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 buying an additional 13,775 shares during the period. CIBC Asset Management Inc boosted its position in shares of Labcorp by 61.3% during the fourth quarter. CIBC Asset Management Inc now owns 19,974 shares of the medical research company’s stock valued at $5,011,000 after buying an additional 7,592 shares during the period. Finally, Victory Capital Management Inc. grew 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 buying an additional 2,719,475 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LH shares. Bank of America increased their price objective on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Barclays upped their price objective on shares of Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their price target on Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $306.00 price objective on shares of Labcorp in a research note on Friday, July 31st. Finally, Morgan Stanley increased their target price on Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.