Key Points
- EVP Bryan Vaughn sold 306 shares for about $108,232, reducing his direct stake by 4.28%; the sale was made under a pre-arranged Rule 10b5-1 plan.
- Labcorp reported quarterly EPS of $4.78 versus the $4.64 consensus and revenue of $3.81 billion versus $3.76 billion expected; revenue rose 6.9% year over year.
- Analyst sentiment was broadly positive, with Labcorp carrying a “Moderate Buy” consensus rating and a $369.08 average price target. The company also announced a quarterly dividend of $0.72 per share.
Labcorp Holdings Inc. (NYSE:LH - Get Free Report) EVP Bryan Vaughn sold 306 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $353.70, for a total transaction of $108,232.20. Following the completion of the sale, the executive vice president directly owned 6,845 shares in the company, valued at approximately $2,421,076.50. This trade represents a 4.28% decrease in their position. The transaction 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 1.3%
Shares of NYSE:LH opened at $362.93 on Friday. The company has a market cap of $29.47 billion, a PE ratio of 29.77, a P/E/G ratio of 2.08 and a beta of 0.86. The company's 50-day moving average price is $325.05 and its 200 day moving average price is $289.53. Labcorp Holdings Inc. has a fifty-two week low of $244.52 and a fifty-two week high of $373.34. The company has a quick ratio of 1.22, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.
Labcorp (NYSE:LH - Get Free Report) last posted its earnings results on Wednesday, October 28th. The medical research company reported $4.78 EPS for the quarter, topping the consensus estimate of $4.64 by $0.14. Labcorp had a net margin of 6.88% and a return on equity of 17.13%. The firm had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.76 billion. During the same quarter in the prior year, the firm earned $4.18 EPS. Labcorp's quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Labcorp Holdings Inc. will post 18.51 earnings per share for the current year.
Labcorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 24th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 24th. Labcorp's payout ratio is presently 23.63%.
Key Headlines Impacting Labcorp
Here are the key news stories impacting Labcorp this week:
- Positive Sentiment: HSBC upgraded Labcorp from “hold” to “buy” and set a $410 price target, implying about 13% upside from the cited share price. HSBC analyst rating
- Positive Sentiment: Mizuho raised its price target to $400 from $355, adding to the constructive analyst outlook. Mizuho price target update
- Positive Sentiment: Zacks highlighted LH as a top-ranked momentum stock, which may attract investors focused on price trends; the article is promotional research content, not a guarantee of future performance. Zacks momentum-stock article
- Positive Sentiment: Labcorp completed its acquisition of Millennium Health, expanding its business; the provided report does not detail the expected financial contribution. Millennium Health acquisition completion
- Neutral Sentiment: CFO Julia Wang is scheduled to speak at the UBS Global Healthcare Conference on November 10; no new financial guidance was reported. Conference announcement
- Negative Sentiment: EVP Bryan Vaughn sold 306 shares, while director Richelle Parham sold 1,078 shares. Vaughn’s sale was under a pre-arranged Rule 10b5-1 plan; insider sales can create some near-term concern but do not necessarily signal a change in outlook. Insider transaction report
Institutional Investors Weigh In On Labcorp
Hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Labcorp in the third quarter valued at $305,000. Banyan Capital Management Inc. bought a new stake in shares of Labcorp during the third quarter valued at approximately $11,755,000. Maryland State Retirement & Pension System raised its position in Labcorp by 13.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 5,092 shares of the medical research company's stock worth $1,569,000 after purchasing an additional 596 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Labcorp by 4.5% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 49,854 shares of the medical research company's stock worth $15,361,000 after purchasing an additional 2,163 shares during the last quarter. Finally, Lido Advisors LLC lifted its holdings in Labcorp by 365.0% during the 3rd quarter. Lido Advisors LLC now owns 4,673 shares of the medical research company's stock worth $1,440,000 after buying an additional 3,668 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on LH. Truist Financial increased their price objective on Labcorp from $365.00 to $395.00 and gave the stock a "buy" rating in a research note on Thursday, October 29th. Barclays increased their target price on shares of Labcorp from $330.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 28th. Bank of America lifted their price target on shares of Labcorp from $300.00 to $320.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Weiss Ratings raised Labcorp from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, October 21st. Finally, UBS Group increased their price target on shares of Labcorp from $380.00 to $420.00 and gave the company a "buy" rating in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and a consensus price target of $369.08.
View Our Latest Research Report on Labcorp
About Labcorp
(
Get Free Report)
Labcorp (NYSE: LH), formally Laboratory Corporation of America Holdings, is a global life sciences and healthcare company headquartered in Burlington, North Carolina. The company provides laboratory testing and diagnostic services to physicians, hospitals, health systems, employers, insurers and consumers.
Through its diagnostics operations, Labcorp offers routine and specialty testing, oncology diagnostics, women's health testing, genetic testing, pathology services and other laboratory services.
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