Labcorp Holdings Inc. (NYSE:LH) Plans $0.72 Quarterly Dividend

Labcorp Holdings Inc. (NYSE:LH) announced a quarterly dividend on Wednesday, January 14th. Investors of record on Friday, February 27th will be given a dividend of 0.72 per share by the medical research company on Thursday, March 12th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, February 27th.

Labcorp has a dividend payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Labcorp to earn $17.54 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 16.4%.

Labcorp Stock Up 3.0%

Shares of LH stock opened at $261.58 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59. Labcorp has a twelve month low of $209.38 and a twelve month high of $293.72. The stock has a 50 day moving average of $259.19 and a 200 day moving average of $265.83. The stock has a market cap of $21.68 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.60 and a beta of 1.00.

Labcorp (NYSE:LH) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the company earned $3.50 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, sell-side analysts expect that Labcorp will post 16.01 EPS for the current year.

Insider Buying and Selling

In other news, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the transaction, the director owned 2,469 shares in the company, valued at $627,817.32. This trade represents a 73.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 5,745 shares of Labcorp stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 87,574 shares in the company, valued at $23,010,068.50. This represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Labcorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. grew its holdings in Labcorp by 4.1% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 32,180 shares of the medical research company’s stock valued at $8,073,000 after buying an additional 1,282 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Labcorp by 15.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 110,675 shares of the medical research company’s stock worth $27,766,000 after acquiring an additional 14,892 shares during the period. Accurate Wealth Management LLC boosted its position in shares of Labcorp by 9.4% during the 4th quarter. Accurate Wealth Management LLC now owns 1,361 shares of the medical research company’s stock valued at $343,000 after acquiring an additional 117 shares during the last quarter. Dakota Wealth Management boosted its position in shares of Labcorp by 26.4% during the 4th quarter. Dakota Wealth Management now owns 13,022 shares of the medical research company’s stock valued at $3,267,000 after acquiring an additional 2,719 shares during the last quarter. Finally, Czech National Bank grew its holdings in shares of Labcorp by 3.6% in the fourth quarter. Czech National Bank now owns 21,860 shares of the medical research company’s stock valued at $5,484,000 after purchasing an additional 754 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

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.