Insider Selling: Labcorp Holdings Inc. (NYSE:LH) Director Sells 500 Shares of Stock

Labcorp Holdings Inc. (NYSE:LH - Get Free Report) Director Kerrii B. Anderson sold 500 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the sale, the director owned 12,166 shares of the company's stock, valued at $3,223,990. This trade represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Labcorp Price Performance

Shares of Labcorp stock traded down $4.23 during trading hours on Wednesday, reaching $260.03. The company's stock had a trading volume of 611,601 shares, compared to its average volume of 641,245. The firm has a 50 day moving average price of $250.06 and a 200-day moving average price of $241.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.60. The stock has a market cap of $21.76 billion, a P/E ratio of 30.06, a P/E/G ratio of 1.68 and a beta of 0.82. Labcorp Holdings Inc. has a one year low of $198.96 and a one year high of $265.72.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. Labcorp had a return on equity of 15.27% and a net margin of 5.55%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.68 earnings per share. On average, analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.11%. Labcorp's dividend payout ratio (DPR) is 33.29%.

Analysts Set New Price Targets

LH has been the topic of several analyst reports. Citigroup raised shares of Labcorp from a "neutral" rating to a "buy" rating and lifted their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Robert W. Baird boosted their price objective on Labcorp from $253.00 to $267.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Truist Financial increased their target price on Labcorp from $274.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Wall Street Zen cut Labcorp from a "buy" rating to a "hold" rating in a report on Friday, April 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $276.08.

Institutional Investors Weigh In On Labcorp

Several institutional investors have recently made changes to their positions in the company. AG2R LA Mondiale Gestion D Actifs purchased a new stake in Labcorp in the 1st quarter worth about $1,143,000. Voya Investment Management LLC grew its stake in shares of Labcorp by 111.2% during the first quarter. Voya Investment Management LLC now owns 52,630 shares of the medical research company's stock valued at $12,249,000 after buying an additional 27,708 shares during the last quarter. eCIO Inc. purchased a new stake in shares of Labcorp in the first quarter worth approximately $94,000. Strs Ohio bought a new stake in shares of Labcorp during the 1st quarter worth approximately $23,639,000. Finally, IFM Investors Pty Ltd boosted its holdings in Labcorp by 2.6% during the 1st quarter. IFM Investors Pty Ltd now owns 15,859 shares of the medical research company's stock valued at $3,691,000 after acquiring an additional 404 shares during the period. Institutional investors 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.