Adam Schechter Sells 8,705 Shares of Labcorp (NYSE:LH) Stock

Labcorp Holdings Inc. (NYSE:LH) CEO Adam Schechter sold 8,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total value of $2,437,051.80. Following the completion of the transaction, the chief executive officer owned 80,773 shares of the company’s stock, valued at $22,613,209.08. This represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Labcorp Stock Down 0.8%

Labcorp stock opened at $280.85 on Thursday. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $270.25 and a 200-day moving average of $270.26. The stock has a market capitalization of $23.14 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

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

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 27th will be given a dividend of $0.72 per share. 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 dividend payout ratio is 27.53%.

Analyst Ratings Changes

A number of brokerages have recently commented on LH. Piper Sandler boosted their price objective on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. boosted their price target on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Robert W. Baird increased their price objective on shares of Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.82.

Institutional Investors Weigh In On Labcorp

A number of large investors have recently bought and sold shares of the company. Caldwell Trust Co acquired a new stake in shares of Labcorp during the 2nd quarter worth approximately $25,000. Financial Gravity Companies Inc. bought a new stake in Labcorp during the second quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Labcorp in the 4th quarter valued at $26,000. Hilton Head Capital Partners LLC bought a new position in shares of Labcorp in the 4th quarter valued at $27,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Labcorp during the 3rd quarter worth $28,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Company Profile

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.