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

Labcorp Holdings Inc. (NYSE:LH) EVP Bryan Vaughn sold 306 shares of Labcorp stock in a transaction dated 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 directly owned 6,845 shares of the company’s stock, valued at approximately $2,421,076.50. This trade represents a 4.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Trading Up 1.0%

Shares of LH stock opened at $366.90 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.22 and a debt-to-equity ratio of 0.60. Labcorp Holdings Inc. has a 1-year low of $244.52 and a 1-year high of $373.34. The stock has a 50-day moving average of $325.66 and a 200-day moving average of $290.01. The stock has a market cap of $29.79 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.01 and a beta of 0.86.

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

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 24th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 24th. Labcorp’s dividend payout ratio is 23.63%.

Institutional Investors Weigh In On Labcorp

A number of institutional investors have recently added to or reduced their stakes in LH. Allspring Global Investments Holdings LLC lifted its position 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 worth $607,241,000 after purchasing an additional 22,170 shares during the period. Dimensional Fund Advisors LP grew its position in Labcorp by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,332,775 shares of the medical research company’s stock valued at $355,569,000 after acquiring an additional 28,584 shares during the last quarter. Royal Bank of Canada boosted its holdings in Labcorp by 19.4% in the first quarter. Royal Bank of Canada now owns 820,442 shares of the medical research company’s stock valued at $218,901,000 after acquiring an additional 133,549 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Labcorp in the 2nd quarter worth $168,222,000. Finally, Bessemer Group Inc. grew its stake in Labcorp by 47.3% in the 1st quarter. Bessemer Group Inc. now owns 579,036 shares of the medical research company’s stock valued at $154,493,000 after purchasing an additional 185,847 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LH. Morgan Stanley restated an “overweight” rating and set a $388.00 price objective on shares of Labcorp in a report on Thursday, October 29th. Bank of America increased their price target on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Labcorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. boosted their target price on Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and an average target price of $369.08.

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.