Labcorp Holdings Inc. (NYSE:LH – Get Free Report) CEO Adam Schechter sold 5,903 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the sale, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at $27,291,053. The trade was a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Labcorp Stock Performance
Shares of NYSE LH traded down $2.67 during midday trading on Wednesday, hitting $254.69. 66,135 shares of the company’s stock traded hands, compared to its average volume of 692,239. Labcorp Holdings Inc. has a 1 year low of $239.67 and a 1 year high of $293.72. The stock has a market capitalization of $20.88 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. The firm has a fifty day moving average of $267.17 and a 200 day moving average of $266.12.
Labcorp (NYSE:LH – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating the consensus estimate of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the firm earned $3.84 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, analysts forecast that Labcorp Holdings Inc. will post 17.99 earnings per share for the current year.
Labcorp Dividend Announcement
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in LH. Victory Capital Management Inc. boosted its stake in Labcorp by 103.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after purchasing an additional 2,719,475 shares during the period. Boston Partners bought a new position in Labcorp in the 4th quarter worth approximately $480,271,000. Norges Bank bought a new position in Labcorp in the 4th quarter worth approximately $248,006,000. Wellington Management Group LLP boosted its stake in Labcorp by 15.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after purchasing an additional 289,029 shares during the period. Finally, Marshall Wace LLP boosted its stake in Labcorp by 79.1% in the 3rd quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock worth $178,996,000 after purchasing an additional 275,454 shares during the period. 95.94% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently issued reports on LH. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Robert W. Baird set a $334.00 price objective on Labcorp in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Friday. Finally, Evercore reiterated an “outperform” rating and set a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Labcorp presently has an average rating of “Moderate Buy” and a consensus price target of $308.00.
Get Our Latest Stock Analysis on LH
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.
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