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

Labcorp Holdings Inc. (NYSE:LH) EVP Bryan Vaughn sold 306 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $353.70, for a total transaction of $108,232.20. Following the completion of the transaction, the executive vice president owned 6,845 shares of the company’s stock, valued at approximately $2,421,076.50. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Stock Performance

Shares of NYSE LH opened at $362.93 on Friday. The company has a market capitalization of $29.47 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.08 and a beta of 0.86. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.22 and a current ratio of 1.41. The company’s fifty day moving average price is $325.05 and its 200 day moving average price is $289.53. Labcorp Holdings Inc. has a 1 year low of $244.52 and a 1 year high of $373.34.

Labcorp (NYSE:LH) last released its quarterly earnings data on Wednesday, October 28th. The medical research company reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $4.64 by $0.14. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Labcorp had a net margin of 6.88% and a return on equity of 17.13%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.18 earnings per share. On average, research analysts predict that Labcorp Holdings Inc. will post 18.51 earnings per share for the current year.

Labcorp Announces Dividend

The firm 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. This represents a $2.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 24th. Labcorp’s payout ratio is currently 23.63%.

Analysts Set New Price Targets

LH has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on Labcorp from $300.00 to $309.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price objective on Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Mizuho set a $355.00 target price on Labcorp in a research note on Monday, August 10th. Leerink Partners set a $410.00 target price on Labcorp in a research report on Wednesday, October 28th. Finally, UBS Group lifted their price target on Labcorp from $380.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Labcorp has a consensus rating of “Moderate Buy” and a consensus price target of $369.08.

Key Labcorp News

Here are the key news stories impacting Labcorp this week:

• Positive Sentiment: HSBC upgraded Labcorp from “hold” to “buy” and set a $410 price target, implying about 13% upside from the cited share price. HSBC analyst rating
• Positive Sentiment: Mizuho raised its price target to $400 from $355, adding to the constructive analyst outlook. Mizuho price target update
• Positive Sentiment: Zacks highlighted LH as a top-ranked momentum stock, which may attract investors focused on price trends; the article is promotional research content, not a guarantee of future performance. Zacks momentum-stock article
• Positive Sentiment: Labcorp completed its acquisition of Millennium Health, expanding its business; the provided report does not detail the expected financial contribution. Millennium Health acquisition completion
• Neutral Sentiment: CFO Julia Wang is scheduled to speak at the UBS Global Healthcare Conference on November 10; no new financial guidance was reported. Conference announcement
• Negative Sentiment: EVP Bryan Vaughn sold 306 shares, while director Richelle Parham sold 1,078 shares. Vaughn’s sale was under a pre-arranged Rule 10b5-1 plan; insider sales can create some near-term concern but do not necessarily signal a change in outlook. Insider transaction report

Hedge Funds Weigh In On Labcorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its holdings in shares of Labcorp by 106.5% in the 1st quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company’s stock worth $15,470,000 after purchasing an additional 29,899 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Labcorp during the 2nd quarter valued at approximately $7,792,000. Tidal Investments LLC boosted its position in Labcorp by 12.4% during the 2nd quarter. Tidal Investments LLC now owns 30,559 shares of the medical research company’s stock valued at $8,557,000 after purchasing an additional 3,372 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Labcorp during the 2nd quarter worth $168,222,000. Finally, Royal Bank of Canada grew its stake in Labcorp by 19.4% during the 1st quarter. Royal Bank of Canada now owns 820,442 shares of the medical research company’s stock worth $218,901,000 after buying an additional 133,549 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

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.