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

Labcorp Holdings Inc. (NYSE:LH) EVP Brian Caveney sold 1,500 shares of the business’s 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 completion of the transaction, the executive vice president directly owned 30,107 shares of the company’s stock, valued at approximately $8,619,935.17. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Labcorp Price Performance

LH opened at $288.92 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.42 and a quick ratio of 1.23. The stock has a market capitalization of $23.81 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.96 and a beta of 1.03. The company’s 50 day simple moving average is $268.50 and its 200-day simple moving average is $270.01. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $293.72.

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

Labcorp Dividend Announcement

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 paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Labcorp’s dividend payout ratio is 27.53%.

Hedge Funds Weigh In On Labcorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Labcorp during the fourth quarter worth about $991,000. Integrated Wealth Concepts LLC raised its position in shares of Labcorp by 7.9% during the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock worth $565,000 after purchasing an additional 177 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Labcorp by 52.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after purchasing an additional 121,304 shares in the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Labcorp by 10.4% during the 2nd quarter. Wealthfront Advisers LLC now owns 7,250 shares of the medical research company’s stock valued at $1,903,000 after purchasing an additional 685 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Labcorp by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 277,037 shares of the medical research company’s stock valued at $72,725,000 after purchasing an additional 3,322 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LH. Piper Sandler upped their target price on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday. Robert W. Baird boosted their price target on shares of Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. raised their price objective on shares of Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Morgan Stanley reaffirmed an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Finally, Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.42.

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.