Labcorp Holdings Inc. (NYSE:LH) EVP Der Vaart Sandra D. Van Sells 3,903 Shares

Key Points

• Sandra D. Van Der Vaart, Executive Vice President of Labcorp Holdings Inc., sold 3,903 shares of the company's stock for over $1 million, reducing her ownership by 63.19%.
• Labcorp's recent quarterly earnings showed an EPS of $4.35, surpassing estimates, with revenues up 9.6% year-over-year, amounting to $3.53 billion.
• The company declared a quarterly dividend of $0.72, with a yield of 1.1%, and has a dividend payout ratio of 31.79%.

Labcorp Holdings Inc. (NYSE:LH - Get Free Report) EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the transaction, the executive vice president owned 2,274 shares of the company's stock, valued at approximately $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Labcorp Price Performance

LH stock traded down $0.08 during trading on Friday, reaching $271.18. 85,052 shares of the company were exchanged, compared to its average volume of 721,953. The stock's 50 day moving average price is $259.20 and its 200 day moving average price is $246.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The company has a market cap of $22.53 billion, a P/E ratio of 29.87, a PEG ratio of 1.74 and a beta of 0.78. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $283.47.

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

Labcorp Dividend Announcement

The business also recently announced 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 yield of 1.1%. Labcorp's dividend payout ratio is presently 31.79%.

Analysts Set New Price Targets

A number of research firms have commented on LH. HSBC lowered Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a research report on Thursday, July 10th. UBS Group upped their price target on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Piper Sandler reissued a "neutral" rating and set a $280.00 price target (up from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. Morgan Stanley raised their price objective on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Robert W. Baird boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $289.58.

Hedge Funds Weigh In On Labcorp

A number of institutional investors and hedge funds have recently bought and sold shares of LH. SP Asset Management LLC raised its stake in shares of Labcorp by 0.3% in the second quarter. SP Asset Management LLC now owns 14,177 shares of the medical research company's stock valued at $3,722,000 after buying an additional 38 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Labcorp by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company's stock valued at $114,000 after buying an additional 40 shares during the last quarter. Highland Capital Management LLC increased its holdings in Labcorp by 0.3% in the 2nd quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company's stock worth $4,022,000 after buying an additional 40 shares in the last quarter. Zions Bancorporation National Association UT grew its holdings in Labcorp by 21.9% during the second quarter. Zions Bancorporation National Association UT now owns 223 shares of the medical research company's stock valued at $59,000 after purchasing an additional 40 shares during the period. Finally, Wedmont Private Capital boosted its stake in shares of Labcorp by 5.0% in the first quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock worth $204,000 after acquiring an additional 44 shares during the period. Institutional investors own 95.94% of the company's stock.

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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