Insider Selling: Labcorp (NYSE:LH) CEO Sells 4,669 Shares of Stock

Key Points

• Labcorp CEO Adam Schechter sold 4,669 shares at an average price of $320.37, generating approximately $1.50 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 102,565 shares.
• Labcorp shares traded near $322, close to their 52-week high of $323.97, after the company reported quarterly EPS of $4.99 and revenue of $3.73 billion, both above analyst expectations.
• Analysts maintain a generally positive view, with nine Buy ratings and three Holds and a consensus price target of $330. The company also declared a quarterly dividend of $0.72 per share, equating to a 0.9% annualized yield.

Labcorp Holdings Inc. (NYSE:LH - Get Free Report) CEO Adam Schechter sold 4,669 shares of Labcorp stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the completion of the transaction, the chief executive officer owned 102,565 shares of the company's stock, valued at $32,858,749.05. This represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Labcorp Price Performance

LH stock traded down $0.37 during mid-day trading on Wednesday, reaching $322.05. 181,116 shares of the company traded hands, compared to its average volume of 683,533. The company has a fifty day moving average price of $282.70 and a 200-day moving average price of $273.60. Labcorp Holdings Inc. has a 52-week low of $244.52 and a 52-week high of $323.97. The company has a market capitalization of $26.12 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.86 and a beta of 0.87. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.78 by $0.21. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.35 earnings per share. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, analysts anticipate that Labcorp Holdings Inc. will post 18.32 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp's dividend payout ratio (DPR) is presently 23.82%.

Hedge Funds Weigh In On Labcorp

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Labcorp by 0.4% during the fourth 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 last quarter. Victory Capital Management Inc. lifted its holdings in shares of Labcorp by 103.1% in the 4th 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 last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 worth $607,241,000 after acquiring an additional 22,170 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Labcorp by 0.6% in the 4th 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 in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Labcorp by 15.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company's stock valued at $604,488,000 after purchasing an additional 289,029 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LH shares. Morgan Stanley upped their price target on shares of Labcorp from $308.00 to $338.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Robert W. Baird set a $352.00 target price on Labcorp in a research report on Friday, July 31st. Truist Financial upped their target price on Labcorp from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. 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. Finally, Mizuho set a $355.00 price objective on Labcorp in a report on Monday. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $330.00.

About Labcorp

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.

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