Labcorp (NYSE:LH) EVP Amy Summy Sells 924 Shares

Labcorp Holdings Inc. (NYSE:LH) EVP Amy Summy sold 924 shares of Labcorp stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total value of $283,427.76. Following the sale, the executive vice president owned 6,956 shares of the company’s stock, valued at approximately $2,133,683.44. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Labcorp Stock Up 0.6%

Shares of LH opened at $314.30 on Thursday. The firm has a fifty day moving average price of $277.86 and a 200-day moving average price of $272.21. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $25.77 billion, a P/E ratio of 26.00, a P/E/G ratio of 1.80 and a beta of 0.87. Labcorp Holdings Inc. has a 12-month low of $244.52 and a 12-month high of $316.11.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 EPS for the quarter, topping the consensus estimate of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the firm posted $4.35 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Equities research analysts expect that Labcorp Holdings Inc. will post 18.35 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a yield of 0.9%. Labcorp’s dividend payout ratio is 23.82%.

Hedge Funds Weigh In On Labcorp

Several institutional investors have recently bought and sold shares of LH. REAP Financial Group LLC raised its position in shares of Labcorp by 20.4% in the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 37 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Labcorp by 1.7% during the 1st quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company’s stock worth $645,000 after buying an additional 40 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in shares of Labcorp by 2.6% during the 4th quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock worth $409,000 after buying an additional 41 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Labcorp by 37.5% during the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock worth $44,000 after buying an additional 42 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in Labcorp by 3.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after buying an additional 42 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday. Barclays increased their price target on Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Robert W. Baird set a $352.00 price target on Labcorp in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $306.00 price objective on shares of Labcorp in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and an average price target of $326.82.

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.