Insider Selling: Labcorp (NYSE:LH) Director Sells $1,782,248.52 in Stock

Labcorp Holdings Inc. (NYSE:LH) Director Richelle Parham sold 7,009 shares of the company’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 sale, the director owned 2,469 shares of the company’s stock, valued at $627,817.32. This trade represents a 73.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Labcorp Stock Performance

NYSE:LH opened at $245.96 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.32. The firm has a market cap of $20.39 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. The firm’s fifty day moving average price is $274.80 and its 200 day moving average price is $261.87. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72.

Labcorp (NYSE:LH) last released its earnings results on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, topping the consensus estimate of $4.13 by $0.05. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.2%. Labcorp’s payout ratio is presently 28.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new stake in Labcorp in the 2nd quarter valued at about $25,000. Caldwell Trust Co purchased a new stake in shares of Labcorp in the second quarter valued at about $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Labcorp in the second quarter valued at approximately $26,000. Motco purchased a new position in shares of Labcorp during the 3rd quarter worth approximately $32,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Labcorp during the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on LH. Robert W. Baird set a $304.00 price target on Labcorp in a report on Wednesday, October 29th. Hsbc Global Res lowered shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Truist Financial set a $320.00 price target on shares of Labcorp in a report on Tuesday, October 14th. Finally, Barclays boosted their price objective on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $295.54.

Labcorp Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.