Labcorp Holdings Inc. (NYSE:LH - Get Free Report) Director Kerrii Anderson sold 3,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $318.02, for a total value of $954,060.00. Following the transaction, the director owned 6,563 shares of the company's stock, valued at $2,087,165.26. This trade represents a 31.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Labcorp Trading Down 0.2%
Shares of NYSE LH opened at $322.68 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80. The business's 50 day moving average price is $288.51 and its 200-day moving average price is $275.48. Labcorp Holdings Inc. has a fifty-two week low of $244.52 and a fifty-two week high of $329.47. The company has a market cap of $26.17 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.84 and a beta of 0.87.
Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.78 by $0.21. The company had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.Labcorp's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, sell-side analysts expect that Labcorp Holdings Inc. will post 18.32 earnings per share for the current year.
Labcorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 28th. Labcorp's dividend payout ratio (DPR) is 23.82%.
Institutional Trading of Labcorp
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Labcorp by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company's stock worth $2,471,326,000 after purchasing an additional 37,197 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Labcorp by 103.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company's stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Labcorp by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company's stock valued at $607,241,000 after purchasing an additional 22,170 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Labcorp by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company's stock worth $534,023,000 after purchasing an additional 13,775 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company's stock worth $604,488,000 after buying an additional 289,029 shares during the last quarter. Institutional investors own 95.94% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on LH shares. Weiss Ratings raised shares of Labcorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. upped their target price on shares of Labcorp from $330.00 to $360.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Robert W. Baird set a $352.00 target price on shares of Labcorp in a research report on Friday, July 31st. Finally, Morgan Stanley lifted their price target on shares of Labcorp from $308.00 to $338.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Labcorp presently has a consensus rating of "Moderate Buy" and an average price target of $330.00.
Read Our Latest Stock Analysis on Labcorp
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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