Labcorp (NYSE:LH) CEO Adam Schechter Sells 5,745 Shares

Labcorp Holdings Inc. (NYSE:LH) CEO Adam Schechter sold 5,745 shares of Labcorp stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the sale, the chief executive officer owned 87,574 shares in the company, valued at $23,010,068.50. This trade represents a 6.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Labcorp Stock Up 0.7%

Shares of NYSE LH opened at $267.82 on Friday. The business has a 50-day moving average price of $273.56 and a 200 day moving average price of $263.28. The stock has a market cap of $22.20 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $293.72.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Equities research analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio is currently 28.29%.

Analysts Set New Price Targets

LH has been the subject of a number of research reports. Evercore ISI upped their target price on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Barclays boosted their price target on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Robert W. Baird set a $304.00 price objective on Labcorp in a research note on Wednesday, October 29th. Truist Financial set a $320.00 target price on Labcorp in a research note on Tuesday, October 14th. Finally, UBS Group cut their price target on Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.07.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Harbor Asset Planning Inc. acquired a new position in shares of Labcorp during the 2nd quarter worth $25,000. Caldwell Trust Co purchased a new stake in Labcorp during the second quarter worth about $25,000. Financial Gravity Companies Inc. acquired a new position in Labcorp during the second quarter worth about $26,000. Larson Financial Group LLC increased its holdings in Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after buying an additional 73 shares in the last quarter. Finally, Motco acquired a new stake in shares of Labcorp during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.