Labcorp (NYSE:LH) CEO Sells $2,437,051.80 in Stock

Labcorp Holdings Inc. (NYSE:LH) CEO Adam Schechter sold 8,705 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total transaction of $2,437,051.80. Following the sale, the chief executive officer directly owned 80,773 shares of the company’s stock, valued at approximately $22,613,209.08. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Labcorp Stock Down 2.1%

NYSE:LH opened at $270.19 on Friday. The company’s 50-day simple moving average is $271.00 and its 200-day simple moving average is $270.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.23 and a current ratio of 1.42. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The stock has a market capitalization of $22.26 billion, a P/E ratio of 25.83, a P/E/G ratio of 1.84 and a beta of 1.01.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, topping the consensus estimate of $3.95 by $0.12. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the business posted $3.45 EPS. Labcorp’s revenue was up 5.6% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. On average, equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s dividend payout ratio is presently 27.53%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LH shares. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Piper Sandler increased their price target on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. JPMorgan Chase & Co. boosted their price target on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $304.82.

Hedge Funds Weigh In On Labcorp

Hedge funds have recently made changes to their positions in the company. Caldwell Trust Co purchased a new stake in Labcorp during the 2nd quarter valued at about $25,000. Financial Gravity Companies Inc. purchased a new position in shares of Labcorp in the second quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Labcorp in the fourth quarter worth about $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Labcorp during the fourth quarter worth about $27,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Labcorp during the third quarter worth about $28,000. 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.