Labcorp Holdings Inc. (NYSE:LH – Get Free Report) EVP Bryan Vaughn sold 234 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the transaction, the executive vice president directly owned 6,746 shares of the company’s stock, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Labcorp Stock Down 1.3%
LH stock traded down $3.64 during trading on Monday, reaching $283.34. 56,019 shares of the company traded hands, compared to its average volume of 671,858. The business has a 50 day simple moving average of $262.24 and a 200 day simple moving average of $266.27. Labcorp Holdings Inc. has a 12 month low of $241.81 and a 12 month high of $293.72. 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 company has a market capitalization of $23.23 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.01 and a beta of 0.89.
Labcorp (NYSE:LH – Get Free Report) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the company posted $3.84 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, equities research analysts anticipate that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.
Labcorp Announces Dividend
Institutional Investors Weigh In On Labcorp
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG lifted its stake in shares of Labcorp by 2.2% in the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock valued at $124,320,000 after purchasing an additional 10,706 shares during the period. Cinctive Capital Management LP acquired a new position in shares of Labcorp in the third quarter worth about $3,297,000. 8 Knots Management LLC raised its position in shares of Labcorp by 96.6% in the third quarter. 8 Knots Management LLC now owns 204,859 shares of the medical research company’s stock worth $58,807,000 after acquiring an additional 100,675 shares during the period. Gotham Asset Management LLC boosted its stake in shares of Labcorp by 39.2% during the 3rd quarter. Gotham Asset Management LLC now owns 95,029 shares of the medical research company’s stock worth $27,279,000 after acquiring an additional 26,751 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in shares of Labcorp by 36.4% during the 3rd quarter. Korea Investment CORP now owns 31,858 shares of the medical research company’s stock worth $9,145,000 after acquiring an additional 8,500 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently commented on LH shares. Robert W. Baird set a $334.00 price objective on Labcorp in a report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Wall Street Zen cut Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Evercore reissued an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a report 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $308.00.
View Our Latest Stock Analysis on Labcorp
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.
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