Insider Selling: Labcorp (NYSE:LH) EVP Sells $201,084.18 in Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Kathryn Kyle sold 762 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the transaction, the executive vice president directly owned 3,813 shares in the company, valued at $1,006,212.57. This trade represents a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Stock Performance

Labcorp stock opened at $265.45 on Friday. The stock’s 50 day moving average price is $262.65 and its 200 day moving average price is $265.77. The firm has a market capitalization of $21.77 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72.

Labcorp (NYSE:LH) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping the consensus estimate of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the company posted $3.84 EPS. Labcorp’s revenue for the quarter was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, sell-side analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp’s dividend payout ratio is presently 25.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LH shares. Wall Street Zen lowered Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird set a $334.00 target price on Labcorp in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Piper Sandler upped their target price on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $308.00.

Institutional Investors Weigh In On Labcorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Labcorp by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock valued at $2,471,326,000 after acquiring an additional 37,197 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Labcorp by 103.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after acquiring an additional 2,719,475 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Labcorp by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock valued at $607,241,000 after acquiring an additional 22,170 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Labcorp by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after acquiring an additional 13,775 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after acquiring an additional 289,029 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

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.