Key Points
- Labcorp EVP Bryan Vaughn sold 234 shares on July 2 at an average price of $286.19, worth about $66,968. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards.
- The stock was trading higher, opening at $288.89 and up about 1.6% in the session. Labcorp is near its 1-year high of $293.72, with a market cap of $23.69 billion.
- Labcorp’s fundamentals and shareholder returns remain solid, as the company recently beat quarterly EPS and revenue estimates and paid a $0.72 quarterly dividend. Analysts currently rate the stock a “Moderate Buy,” with an average price target of $308.
Labcorp Holdings Inc. (NYSE:LH - Get Free Report) EVP Kathryn Kyle sold 92 shares of Labcorp stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $26,329.48. Following the sale, the executive vice president directly owned 3,904 shares in the company, valued at $1,117,285.76. The trade was a 2.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Price Performance
Shares of Labcorp stock traded up $4.75 during midday trading on Tuesday, hitting $289.14. 12,088 shares of the company were exchanged, compared to its average volume of 670,102. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. The firm has a market cap of $23.71 billion, a P/E ratio of 25.58, a PEG ratio of 2.01 and a beta of 0.89. Labcorp Holdings Inc. has a 52 week low of $241.81 and a 52 week high of $293.72. The firm has a 50 day simple moving average of $262.63 and a 200-day simple moving average of $266.45.
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 the consensus estimate of $4.09 by $0.16. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.Labcorp's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Research analysts forecast that Labcorp Holdings Inc. will post 18 earnings per share for the current year.
Labcorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp's dividend payout ratio is presently 25.51%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of LH. JPL Wealth Management LLC bought a new position in Labcorp in the 3rd quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Labcorp in the fourth quarter worth about $26,000. Hilton Head Capital Partners LLC purchased a new position in Labcorp in the fourth quarter worth about $27,000. Eagle Bay Advisors LLC bought a new position in shares of Labcorp in the fourth quarter worth approximately $29,000. Finally, DV Equities LLC bought a new stake in shares of Labcorp during the fourth quarter valued at approximately $29,000. 95.94% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Robert W. Baird set a $334.00 price target on Labcorp in a research note 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 report on Saturday, June 13th. Finally, Evercore reiterated an "outperform" rating and set a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Labcorp presently has an average rating of "Moderate Buy" and a consensus price target of $308.00.
Read Our Latest Research Report on LH
Labcorp Company Profile
(
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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