Insider Selling: Labcorp (NYSE:LH) Director Sells $954,060.00 in Stock

Labcorp Holdings Inc. (NYSE:LH) Director Kerrii Anderson sold 3,000 shares of Labcorp stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $318.02, for a total value of $954,060.00. Following the completion of the sale, the director directly owned 6,563 shares in the company, valued at approximately $2,087,165.26. This represents a 31.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Price Performance

Shares of LH opened at $323.18 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69. Labcorp Holdings Inc. has a twelve month low of $244.52 and a twelve month high of $326.89. The stock has a market capitalization of $26.21 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.84 and a beta of 0.87. The company has a 50 day moving average of $287.48 and a 200-day moving average of $275.09.

Labcorp (NYSE:LH) last released its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the firm earned $4.35 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, equities research analysts forecast that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 28th. Labcorp’s dividend payout ratio is presently 23.82%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LH. Victory Capital Management Inc. boosted its position in shares of 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 acquiring an additional 2,719,475 shares during the period. Boston Partners bought a new position in Labcorp during the fourth quarter worth about $480,271,000. Norges Bank acquired a new stake in Labcorp in the 4th quarter worth about $248,006,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Labcorp in the 2nd quarter worth about $168,222,000. Finally, Bank of New York Mellon Corp bought a new stake in Labcorp in the 2nd quarter valued at about $142,125,000. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler upped their price objective on Labcorp from $300.00 to $309.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $306.00 price target on shares of Labcorp in a research note on Friday, July 31st. Mizuho set a $355.00 price objective on Labcorp in a research note on Monday, August 10th. Robert W. Baird set a $352.00 target price on Labcorp in a research note on Friday, July 31st. Finally, Weiss Ratings raised shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and a consensus target price of $330.00.

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.