Insider Selling: Labcorp (NYSE:LH) EVP Sells $283,427.76 in Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Amy Summy sold 924 shares of the firm’s stock in a transaction dated 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 directly owned 6,956 shares in the company, valued at $2,133,683.44. This trade represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Labcorp Stock Performance

Shares of LH opened at $318.73 on Friday. The company has a market capitalization of $26.14 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.84 and a beta of 0.87. Labcorp Holdings Inc. has a 52-week low of $244.52 and a 52-week high of $319.94. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $280.11 and a 200 day moving average price of $272.86.

Labcorp (NYSE:LH) last released its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.71 billion. During the same quarter last year, the company earned $4.35 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Research analysts predict that Labcorp Holdings Inc. will post 18.35 EPS for the current fiscal year.

Labcorp Announces Dividend

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

Institutional Investors Weigh In On Labcorp

Several large investors have recently modified their holdings of the stock. JPL Wealth Management LLC acquired a new stake in Labcorp in the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Labcorp in the 4th quarter valued at approximately $26,000. Hilton Head Capital Partners LLC acquired a new position in Labcorp during the 4th quarter worth approximately $27,000. Eagle Bay Advisors LLC purchased a new position in shares of Labcorp during the 4th quarter worth approximately $29,000. Finally, DV Equities LLC acquired a new stake in shares of Labcorp in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on LH. Truist Financial lifted their target price on Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $306.00 price target on shares of Labcorp in a research note on Friday, July 31st. Robert W. Baird set a $352.00 price objective on Labcorp in a research note on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Finally, Morgan Stanley raised their target price on shares of Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock 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.