Insider Selling: Labcorp (NYSE:LH) EVP Sells $429,465.00 in Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Brian Caveney sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total value of $429,465.00. Following the completion of the transaction, the executive vice president directly owned 30,107 shares of the company’s stock, valued at approximately $8,619,935.17. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Labcorp Price Performance

Shares of NYSE:LH opened at $288.92 on Friday. The firm has a market capitalization of $23.81 billion, a PE ratio of 27.62, a PEG ratio of 1.97 and a beta of 1.03. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72. The business’s 50 day moving average is $268.50 and its 200-day moving average is $270.01.

Labcorp (NYSE:LH) last issued its earnings results on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, topping the consensus estimate of $3.95 by $0.12. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.Labcorp’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $3.45 earnings per share. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Sell-side analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s payout ratio is presently 27.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Piper Sandler boosted their price target on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday. Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Morgan Stanley restated an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Ten investment 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 company presently has an average rating of “Moderate Buy” and an average price target of $304.42.

Hedge Funds Weigh In On Labcorp

A number of institutional investors have recently modified their holdings of the stock. Brighton Jones LLC bought a new position in Labcorp in the 4th quarter worth approximately $991,000. Integrated Wealth Concepts LLC raised its position in shares of Labcorp by 7.9% during the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock worth $565,000 after acquiring an additional 177 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Labcorp by 52.2% during the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock worth $82,353,000 after acquiring an additional 121,304 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Labcorp by 10.4% during the second quarter. Wealthfront Advisers LLC now owns 7,250 shares of the medical research company’s stock valued at $1,903,000 after acquiring an additional 685 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Labcorp by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 277,037 shares of the medical research company’s stock valued at $72,725,000 after acquiring an additional 3,322 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

About Labcorp

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.