Labcorp Holdings Inc. (NYSE:LH - Get Free Report) declared a quarterly dividend on Wednesday, October 8th, RTT News reports. Shareholders of record on Wednesday, November 26th will be given a dividend of 0.72 per share by the medical research company on Thursday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%.
Labcorp has a payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Labcorp to earn $17.54 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 16.4%.
Labcorp Stock Down 0.8%
Shares of LH traded down $2.16 during trading hours on Wednesday, reaching $277.46. The stock had a trading volume of 550,378 shares, compared to its average volume of 681,987. Labcorp has a 12 month low of $209.38 and a 12 month high of $289.20. The firm has a 50-day simple moving average of $274.34 and a 200 day simple moving average of $255.13. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $23.06 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 1.76 and a beta of 0.89.
Labcorp (NYSE:LH - Get Free Report) last issued its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The company had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.49 billion. During the same period last year, the business earned $3.94 EPS. Labcorp's quarterly revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research analysts predict that Labcorp will post 16.01 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Adam H. Schechter sold 5,643 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the transaction, the chief executive officer owned 93,319 shares in the company, valued at $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director owned 6,656 shares of the company's stock, valued at $1,763,507.20. This represents a 23.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,046 shares of company stock valued at $4,074,692. 0.84% of the stock is owned by insiders.
Institutional Trading of Labcorp
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Labcorp by 1.6% during the second quarter. Vanguard Group Inc. now owns 9,879,225 shares of the medical research company's stock valued at $2,593,395,000 after acquiring an additional 156,717 shares during the last quarter. State Street Corp increased its position in Labcorp by 0.9% in the second quarter. State Street Corp now owns 3,863,039 shares of the medical research company's stock worth $1,014,086,000 after buying an additional 36,003 shares in the last quarter. Select Equity Group L.P. increased its position in Labcorp by 39.1% in the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company's stock worth $516,696,000 after buying an additional 624,099 shares in the last quarter. Geode Capital Management LLC increased its position in Labcorp by 2.2% in the second quarter. Geode Capital Management LLC now owns 2,113,460 shares of the medical research company's stock worth $552,445,000 after buying an additional 44,630 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Labcorp by 2.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company's stock worth $528,739,000 after buying an additional 43,509 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.
About Labcorp
(
Get Free Report)
Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.
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