Adam Schechter Sells 5,903 Shares of Labcorp (NYSE:LH) Stock

Labcorp Holdings Inc. (NYSE:LH) CEO Adam Schechter sold 5,903 shares of Labcorp stock in a transaction on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the sale, the chief executive officer owned 107,234 shares in the company, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Trading Down 1.0%

NYSE:LH traded down $2.67 during trading hours on Wednesday, hitting $254.69. The company had a trading volume of 66,135 shares, compared to its average volume of 692,239. The company has a market capitalization of $20.88 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.79 and a beta of 0.91. The stock has a 50-day moving average price of $267.17 and a 200 day moving average price of $266.12. Labcorp Holdings Inc. has a 52 week low of $239.67 and a 52 week high of $293.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the business posted $3.84 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, equities research analysts predict that Labcorp Holdings Inc. will post 17.99 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, May 29th. Labcorp’s payout ratio is 25.51%.

Hedge Funds Weigh In On Labcorp

A number of hedge funds have recently bought and sold shares of the company. UBS Group AG raised its position in Labcorp by 2.2% in the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock worth $124,320,000 after buying an additional 10,706 shares during the last quarter. Dakota Wealth Management raised its position in Labcorp by 98.6% in the 3rd quarter. Dakota Wealth Management now owns 10,303 shares of the medical research company’s stock worth $2,958,000 after buying an additional 5,116 shares during the last quarter. Independent Advisor Alliance raised its position in Labcorp by 166.6% in the 3rd quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company’s stock worth $3,477,000 after buying an additional 7,568 shares during the last quarter. New York State Common Retirement Fund raised its position in Labcorp by 12.0% in the 3rd quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company’s stock worth $12,859,000 after buying an additional 4,800 shares during the last quarter. Finally, Cinctive Capital Management LP purchased a new position in Labcorp in the 3rd quarter worth about $3,297,000. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the topic of a number of research reports. Evercore restated an “outperform” rating and set a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Robert W. Baird set a $334.00 target price on shares of Labcorp in a report on Friday, May 1st. Morgan Stanley restated an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a report on Friday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.00.

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.