Labcorp Holdings Inc. (NYSE:LH) Director Sells $529,900.00 in Stock

Key Points

• Labcorp Holdings Inc. director Dwight Gary Gilliland sold 2,000 shares at an average price of $264.95, totaling $529,900, which decreased his holdings by 23.11%.
• The company will pay a quarterly dividend of $0.72 on September 11th, representing an annualized dividend of $2.88 and a yield of 1.1%.
• Labcorp's latest earnings report showed $4.35 earnings per share, exceeding estimates, with revenue growth of 9.6% year-over-year.

Labcorp Holdings Inc. (NYSE:LH - Get Free Report) Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the sale, the director owned 6,656 shares of the company's stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Labcorp Price Performance

NYSE LH traded down $2.20 on Friday, reaching $257.88. 76,606 shares of the stock traded hands, compared to its average volume of 735,997. The firm's fifty day simple moving average is $255.68 and its 200 day simple moving average is $245.30. 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 company has a market cap of $21.58 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 1.69 and a beta of 0.82. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.21. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%. The company's revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $3.94 EPS. As a group, research analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be given a $0.72 dividend. 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%.

Hedge Funds Weigh In On Labcorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. bought a new position in shares of Labcorp during the second quarter worth approximately $25,000. Golden State Wealth Management LLC lifted its holdings in Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after buying an additional 52 shares during the period. North Capital Inc. acquired a new position in shares of Labcorp during the first quarter valued at about $27,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp during the first quarter valued at about $28,000. Finally, Larson Financial Group LLC increased its position in shares of Labcorp by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock worth $29,000 after acquiring an additional 73 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LH shares. Truist Financial lifted their target price on shares of Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Robert W. Baird boosted their price target on shares of Labcorp from $290.00 to $302.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a research note on Thursday, July 10th. Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Evercore ISI boosted their price target on shares of Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $285.00.

About Labcorp

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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