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 that occurred on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the completion of the sale, the chief executive officer directly owned 102,565 shares in the company, valued at approximately $32,858,749.05. This trade represents a 4.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Stock Up 0.1%

Shares of Labcorp stock opened at $322.90 on Thursday. 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 Holdings Inc. has a 52-week low of $244.52 and a 52-week high of $323.97. The company has a market capitalization of $26.19 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.87 and a beta of 0.87. The company has a 50 day moving average of $283.96 and a 200 day moving average of $273.97.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 EPS 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 company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the firm posted $4.35 EPS. The company’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. As a group, research analysts forecast that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

Wall Street Analyst Weigh In

LH has been the subject of a number of recent analyst reports. 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 price objective on Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a report on Monday, July 13th. Barclays boosted their target price on Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Morgan Stanley upped their price target on Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $330.00.

Institutional Investors Weigh In On Labcorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings 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 worth $1,343,922,000 after purchasing an additional 2,719,475 shares during the last quarter. Boston Partners purchased a new stake in shares of Labcorp in the 4th quarter valued at about $480,271,000. Norges Bank purchased a new stake in shares of Labcorp in the 4th quarter valued at about $248,006,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Labcorp in the 2nd quarter valued at about $168,222,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Labcorp in the 2nd quarter valued at about $142,125,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

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.