Labcorp Holdings Inc. (NYSE:LH) Director Kerrii B. Anderson Sells 3,500 Shares

Key Points

• Kerrii B. Anderson, a director at Labcorp Holdings Inc., sold 3,500 shares for $980,000, reducing their position by 28.77%, and now owns 8,666 shares.
• Labcorp reported $4.35 earnings per share for the quarter, exceeding estimates, with a revenue of $3.53 billion, a 9.6% increase year-over-year.
• The company announced a $0.72 quarterly dividend to be paid on September 11th, reflecting a 1.10% dividend yield and a payout ratio of 31.79%.

Labcorp Holdings Inc. (NYSE:LH - Get Free Report) Director Kerrii B. Anderson sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the transaction, the director directly owned 8,666 shares of the company's stock, valued at approximately $2,426,480. The trade was a 28.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Labcorp Price Performance

Shares of Labcorp stock traded down $1.84 on Friday, hitting $258.24. The company's stock had a trading volume of 83,832 shares, compared to its average volume of 735,997. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $283.47. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $255.68 and a 200-day moving average price of $245.30. The company has a market capitalization of $21.61 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

Labcorp (NYSE:LH - Get Free Report) last released its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.94 EPS. On average, equities research analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp's dividend payout ratio is currently 31.79%.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent research reports. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Evercore ISI lifted their target price on shares of Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 25th. UBS Group lifted their target price on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Truist Financial boosted their price objective on shares of Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $285.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Asset Planning Inc. purchased a new position in shares of Labcorp during the 2nd quarter valued at approximately $25,000. Golden State Wealth Management LLC lifted its stake in Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. bought a new stake in Labcorp in the first quarter valued at $27,000. TruNorth Capital Management LLC bought a new stake in Labcorp in the first quarter valued at $28,000. Finally, Larson Financial Group LLC lifted its stake in Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock valued at $29,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.