Dwight Gary Gilliland Sells 2,000 Shares of Labcorp Holdings Inc. (NYSE:LH) Stock

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

Labcorp Stock Up 0.5%

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LH stock opened at $261.34 on Friday. 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 firm has a market capitalization of $21.87 billion, a PE ratio of 28.85, a PEG ratio of 1.66 and a beta of 0.78. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The business's 50 day simple moving average is $256.06 and its 200 day simple moving average is $245.49.

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

Labcorp Announces Dividend

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be issued 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 31.79%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LH. Morgan Stanley upped their price objective on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Barclays reiterated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Piper Sandler reiterated a "neutral" rating and set a $280.00 price objective (up previously from $260.00) on shares of Labcorp in a research note on Tuesday, May 6th. Finally, HSBC cut Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective on the stock. in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $285.00.

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Get Our Latest Stock Report on LH

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Select Equity Group L.P. lifted its position in shares of Labcorp by 150.9% during the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after acquiring an additional 959,981 shares during the period. GAMMA Investing LLC lifted its position in shares of Labcorp by 37,334.2% during the 1st quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock valued at $188,450,000 after acquiring an additional 807,539 shares during the period. Nordea Investment Management AB lifted its position in shares of Labcorp by 28.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company's stock valued at $476,995,000 after acquiring an additional 401,808 shares during the period. Invesco Ltd. lifted its position in shares of Labcorp by 28.9% during the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock valued at $330,750,000 after acquiring an additional 318,865 shares during the period. Finally, Lord Abbett & CO. LLC lifted its position in shares of Labcorp by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock valued at $181,819,000 after acquiring an additional 280,011 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

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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