Labcorp (NYSE:LH) EVP Sells 306 Shares of Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Bryan Vaughn sold 306 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $353.70, for a total value of $108,232.20. Following the transaction, the executive vice president directly owned 6,845 shares in the company, valued at $2,421,076.50. This trade represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Stock Performance

Shares of NYSE:LH opened at $368.04 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.22 and a debt-to-equity ratio of 0.60. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $371.00. The company has a market cap of $29.89 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86. The company has a 50-day moving average price of $324.51 and a 200-day moving average price of $289.07.

Labcorp (NYSE:LH) last posted its earnings results on Wednesday, October 28th. The medical research company reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $4.64 by $0.14. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. Labcorp had a return on equity of 17.13% and a net margin of 6.88%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.18 EPS. As a group, equities analysts anticipate that Labcorp Holdings Inc. will post 18.51 EPS for the current year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 24th will be paid a $0.72 dividend. The ex-dividend date is Tuesday, November 24th. This represents a $2.88 dividend on an annualized basis and a yield of 0.8%. Labcorp’s payout ratio is presently 23.63%.

Hedge Funds Weigh In On Labcorp

A number of large investors have recently bought and sold shares of LH. Lido Advisors LLC grew its holdings in Labcorp by 365.0% in the 3rd quarter. Lido Advisors LLC now owns 4,673 shares of the medical research company’s stock valued at $1,440,000 after buying an additional 3,668 shares in the last quarter. AlphaCore Capital LLC grew its position in Labcorp by 13.9% in the 3rd quarter. AlphaCore Capital LLC now owns 2,773 shares of the medical research company’s stock valued at $854,000 after acquiring an additional 338 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of Labcorp in the 3rd quarter valued at about $506,000. Brighton Jones LLC grew its position in shares of Labcorp by 2.1% during the third quarter. Brighton Jones LLC now owns 1,930 shares of the medical research company’s stock worth $595,000 after buying an additional 39 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Labcorp by 2.8% during the third quarter. Pictet Asset Management Holding SA now owns 45,169 shares of the medical research company’s stock worth $13,917,000 after buying an additional 1,248 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LH. Barclays raised their target price on shares of Labcorp from $330.00 to $380.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 28th. HSBC raised shares of Labcorp from a “hold” rating to a “buy” rating and set a $410.00 target price for the company in a research note on Thursday. Mizuho set a $355.00 price target on Labcorp in a research report on Monday, August 10th. JPMorgan Chase & Co. boosted their price objective on shares of Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Labcorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $369.08.

Labcorp Company Profile

Labcorp (NYSE: LH), formally Laboratory Corporation of America Holdings, is a global life sciences and healthcare company headquartered in Burlington, North Carolina. The company provides laboratory testing and diagnostic services to physicians, hospitals, health systems, employers, insurers and consumers.

Through its diagnostics operations, Labcorp offers routine and specialty testing, oncology diagnostics, women’s health testing, genetic testing, pathology services and other laboratory services.