Labcorp (NYSE:LH) EVP Sells $26,329.48 in Stock

Labcorp Holdings Inc. (NYSE:LH) EVP Kathryn Kyle sold 92 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $26,329.48. Following the completion of the sale, the executive vice president owned 3,904 shares of the company’s stock, valued at $1,117,285.76. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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%

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

Labcorp (NYSE:LH) last issued its quarterly 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. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the business earned $3.84 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Sell-side analysts expect that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Labcorp from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Robert W. Baird set a $334.00 price target on Labcorp in a report on Friday, May 1st. Evercore reissued an “outperform” rating and set a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Labcorp presently has a consensus rating of “Moderate Buy” and an average price target of $308.00.

Institutional Trading of Labcorp

Hedge funds have recently made changes to their positions in the company. UBS Group AG grew its holdings in shares of Labcorp by 2.2% during the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock worth $124,320,000 after purchasing an additional 10,706 shares during the period. Cinctive Capital Management LP acquired a new position in Labcorp in the third quarter valued at about $3,297,000. 8 Knots Management LLC boosted its stake in Labcorp by 96.6% during the third quarter. 8 Knots Management LLC now owns 204,859 shares of the medical research company’s stock worth $58,807,000 after buying an additional 100,675 shares during the period. Korea Investment CORP increased its position in shares of Labcorp by 36.4% during the third quarter. Korea Investment CORP now owns 31,858 shares of the medical research company’s stock valued at $9,145,000 after acquiring an additional 8,500 shares during the last quarter. Finally, Gotham Asset Management LLC increased its position in shares of Labcorp by 39.2% during the third quarter. Gotham Asset Management LLC now owns 95,029 shares of the medical research company’s stock valued at $27,279,000 after acquiring an additional 26,751 shares during the last quarter. Hedge funds and other 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.