Adam Schechter Sells 5,745 Shares of Labcorp (NYSE:LH) Stock

Labcorp Holdings Inc. (NYSE:LH) CEO Adam Schechter sold 5,745 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the transaction, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. This represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Labcorp Trading Up 1.1%

LH traded up $2.82 during trading on Thursday, reaching $268.82. 90,272 shares of the stock traded hands, compared to its average volume of 711,593. The stock’s 50-day moving average is $273.71 and its 200 day moving average is $263.24. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $22.29 billion, a PE ratio of 26.51, a P/E/G ratio of 1.59 and a beta of 0.91.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period last year, the company posted $3.50 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s payout ratio is currently 28.29%.

Institutional Investors Weigh In On Labcorp

Several institutional investors have recently bought and sold shares of LH. Harbor Asset Planning Inc. bought a new position in shares of Labcorp during the second quarter valued at about $25,000. Caldwell Trust Co bought a new position in Labcorp during the 2nd quarter valued at approximately $25,000. Financial Gravity Companies Inc. purchased a new stake in Labcorp in the 2nd quarter worth approximately $26,000. Larson Financial Group LLC lifted its holdings in Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after buying an additional 73 shares during the period. Finally, Motco bought a new stake in shares of Labcorp in the 3rd quarter worth approximately $32,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Evercore ISI upped their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Robert W. Baird set a $304.00 price target on shares of Labcorp in a research report on Wednesday, October 29th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Morgan Stanley raised their price target on shares of Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Labcorp presently has an average rating of “Moderate Buy” and a consensus price target of $297.07.

Labcorp Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.