Labcorp (NYSE:LH) CEO Adam Schechter Sells 8,705 Shares

Labcorp Holdings Inc. (NYSE:LH) CEO Adam Schechter sold 8,705 shares of Labcorp stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $279.96, for a total transaction of $2,437,051.80. Following the completion of the transaction, the chief executive officer owned 80,773 shares in the company, valued at approximately $22,613,209.08. This trade represents a 9.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Labcorp Price Performance

Shares of LH traded down $4.79 during trading hours on Friday, hitting $271.13. 52,017 shares of the company were exchanged, compared to its average volume of 738,548. The company has a market capitalization of $22.34 billion, a PE ratio of 25.92, a PEG ratio of 1.92 and a beta of 1.01. 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 firm has a fifty day simple moving average of $270.68 and a 200-day simple moving average of $270.30. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $293.72.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.12. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.Labcorp’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. As a group, sell-side analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current 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 issued a dividend of $0.72 per share. The ex-dividend date is Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s payout ratio is currently 27.53%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Caldwell Trust Co acquired a new stake in shares of Labcorp during the 2nd quarter valued at about $25,000. Financial Gravity Companies Inc. bought a new position in Labcorp during the second quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Labcorp during the fourth quarter valued at approximately $26,000. Hilton Head Capital Partners LLC acquired a new stake in Labcorp in the fourth quarter valued at approximately $27,000. Finally, JPL Wealth Management LLC bought a new stake in Labcorp in the third quarter worth approximately $28,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Robert W. Baird upped their price target on Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. raised their price objective on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Piper Sandler lifted their target price on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $304.82.

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.