Labcorp (NYSE:LH) EVP Sells $66,968.46 in Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Bryan Vaughn sold 234 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the transaction, the executive vice president directly owned 6,746 shares of the company’s stock, valued at $1,930,637.74. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Labcorp Stock Down 2.1%

NYSE:LH opened at $277.81 on Thursday. The stock has a 50-day simple moving average of $263.33 and a 200 day simple moving average of $266.83. Labcorp Holdings Inc. has a 52-week low of $241.81 and a 52-week high of $293.72. The company has a market cap of $22.78 billion, a PE ratio of 24.61, a PEG ratio of 1.99 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Robert W. Baird set a $334.00 price target on Labcorp in a research report on Friday, May 1st. Finally, Wall Street Zen cut Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.00.

Institutional Trading of Labcorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Labcorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock valued at $2,471,326,000 after acquiring an additional 37,197 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Labcorp by 103.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after acquiring an additional 2,719,475 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of 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 purchasing an additional 22,170 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 13,775 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Labcorp by 15.9% during the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after purchasing an additional 289,029 shares during the period. 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.