Kathryn Kyle Sells 762 Shares of Labcorp (NYSE:LH) Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Kathryn Kyle sold 762 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the sale, the executive vice president owned 3,813 shares in the company, valued at $1,006,212.57. The trade was a 16.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Price Performance

Shares of LH stock opened at $264.91 on Friday. The stock’s fifty day moving average is $262.80 and its 200-day moving average is $265.78. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. The stock has a market capitalization of $21.72 billion, a PE ratio of 23.46, a PEG ratio of 1.88 and a beta of 0.90. Labcorp Holdings Inc. has a 52 week low of $241.81 and a 52 week high of $293.72.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping the consensus estimate of $4.09 by $0.16. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities research analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp’s dividend payout ratio is 25.51%.

Hedge Funds Weigh In On Labcorp

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Labcorp by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock valued at $2,471,326,000 after buying an additional 37,197 shares during the period. Victory Capital Management Inc. lifted its stake in Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after buying an additional 2,719,475 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Labcorp by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock valued at $607,241,000 after buying an additional 22,170 shares during the period. Geode Capital Management LLC lifted its stake in Labcorp by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after buying an additional 13,775 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Labcorp by 15.9% in the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after buying an additional 289,029 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LH shares. Evercore reaffirmed an “outperform” rating and set a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. Piper Sandler upped their price target on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Robert W. Baird set a $334.00 price target on Labcorp in a research note on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.