Key Points
- CEO Adam Schechter sold 5,273 shares of Labcorp on Feb. 11 at an average price of $284.38 for about $1.50 million, reducing his stake by 5.69% to 87,343 shares valued at roughly $24.84 million.
- Labcorp declared a quarterly dividend of $0.72 (annualized $2.88), with an ex-dividend/record date of Feb. 27 and a payment date of Mar. 12, implying a yield of about 1.0%.
- Analysts have a "Moderate Buy" consensus on LH with ten Buy ratings, three Holds, and a consensus price target of $300.75.
Labcorp Holdings Inc. (NYSE:LH - Get Free Report) EVP Jonathan Meltzer sold 87 shares of Labcorp stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total transaction of $25,266.54. Following the completion of the transaction, the executive vice president directly owned 2,782 shares of the company's stock, valued at $807,948.44. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Labcorp Trading Up 1.6%
Shares of LH stock opened at $282.64 on Friday. The company has a market cap of $23.43 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The stock's 50 day simple moving average is $263.59 and its two-hundred day simple moving average is $268.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.35.
Labcorp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, February 27th. Labcorp's dividend payout ratio is presently 28.29%.
Institutional Trading of Labcorp
Several institutional investors and hedge funds have recently modified their holdings of LH. Harbor Asset Planning Inc. purchased a new position in Labcorp during the 2nd quarter worth $25,000. Caldwell Trust Co bought a new position in shares of Labcorp during the 2nd quarter worth $25,000. Financial Gravity Companies Inc. purchased a new position in shares of Labcorp during the second quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Labcorp in the fourth quarter valued at about $26,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in Labcorp in the fourth quarter worth about $27,000. Institutional investors own 95.94% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Labcorp from $325.00 to $320.00 and set a "buy" rating for the company in a report on Wednesday, October 29th. Mizuho boosted their target price on Labcorp from $285.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, October 17th. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Robert W. Baird set a $313.00 price target on Labcorp in a research note on Wednesday, January 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Labcorp from $317.00 to $319.00 and gave the company an "overweight" rating in a report on Friday, February 6th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $300.75.
Read Our Latest Report on LH
About Labcorp
(
Get Free Report)
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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