Labcorp (NYSE:LH) Director Sells $389,395.16 in Stock

Labcorp Holdings Inc. (NYSE:LH) Director Richelle Parham sold 1,078 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $361.22, for a total transaction of $389,395.16. Following the completion of the sale, the director directly owned 2,288 shares in the company, valued at approximately $826,471.36. This trade represents a 32.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Labcorp Trading Down 1.3%

Shares of NYSE:LH opened at $362.93 on Friday. The company has a market cap of $29.47 billion, a PE ratio of 29.77, a P/E/G ratio of 2.08 and a beta of 0.86. The company’s 50-day moving average price is $325.05 and its 200 day moving average price is $289.53. Labcorp Holdings Inc. has a fifty-two week low of $244.52 and a fifty-two week high of $373.34. The company has a quick ratio of 1.22, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

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

Labcorp Dividend Announcement

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 given a dividend of $0.72 per share. The ex-dividend date is Tuesday, November 24th. This represents a $2.88 annualized dividend and a dividend yield of 0.8%. Labcorp’s payout ratio is currently 23.63%.

More 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

Several large investors have recently bought and sold shares of LH. Allspring Global Investments Holdings LLC lifted its holdings in Labcorp by 1.0% in the 1st 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 acquiring an additional 22,170 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Labcorp by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,332,775 shares of the medical research company’s stock valued at $355,569,000 after purchasing an additional 28,584 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Labcorp by 19.4% in the 1st quarter. Royal Bank of Canada now owns 820,442 shares of the medical research company’s stock worth $218,901,000 after purchasing an additional 133,549 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Labcorp in the 2nd quarter worth approximately $168,222,000. Finally, Bessemer Group Inc. grew its stake in shares of Labcorp by 47.3% in the 1st quarter. Bessemer Group Inc. now owns 579,036 shares of the medical research company’s stock worth $154,493,000 after purchasing an additional 185,847 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LH shares. Robert W. Baird raised their target price on Labcorp from $361.00 to $396.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $388.00 target price on shares of Labcorp in a research note on Thursday, October 29th. Barclays boosted their price target on Labcorp from $330.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 28th. Leerink Partners set a $410.00 price target on Labcorp in a research note on Wednesday, October 28th. Finally, Bank of America raised their price target on Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.08.

About Labcorp

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.