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

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

Labcorp Trading Down 1.1%

Shares of LH stock opened at $254.40 on Thursday. Labcorp Holdings Inc. has a fifty-two week low of $239.67 and a fifty-two week high of $293.72. The stock has a market cap of $20.86 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.80 and a beta of 0.91. The business has a fifty day simple moving average of $266.53 and a 200-day simple moving average of $265.91. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the business posted $3.84 earnings per share. The business’s revenue for the quarter 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, analysts forecast that Labcorp Holdings Inc. will post 17.99 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be given a $0.72 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of research analyst reports. Morgan Stanley restated an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Piper Sandler raised their price target on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Evercore restated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. JPMorgan Chase & Co. lifted their price objective on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $308.00.

Institutional Trading of Labcorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its position in Labcorp by 4.9% during the 1st quarter. Sei Investments Co. now owns 223,715 shares of the medical research company’s stock worth $59,689,000 after purchasing an additional 10,513 shares in the last quarter. Cetera Investment Advisers increased its position in Labcorp by 6.9% during the 1st quarter. Cetera Investment Advisers now owns 30,425 shares of the medical research company’s stock worth $8,118,000 after purchasing an additional 1,959 shares in the last quarter. Levin Capital Strategies L.P. purchased a new stake in Labcorp during the 1st quarter worth about $5,607,000. CI Investments Inc. increased its position in Labcorp by 13.4% during the 1st quarter. CI Investments Inc. now owns 1,354 shares of the medical research company’s stock worth $361,000 after purchasing an additional 160 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Labcorp by 12.8% in the 1st quarter. First Trust Advisors LP now owns 217,402 shares of the medical research company’s stock valued at $58,005,000 after buying an additional 24,605 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

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.