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Burlington (NYSE:BURL), NC—Amy B. Summy, Executive Vice President and Chief Marketing Officer at LabCorp Holdings Inc. (NYSE:LH), recently sold 226 shares of the company’s common stock. The transaction, executed on February 24, was conducted under a prearranged trading plan in accordance with Rule 10b5-1. The shares were sold at a price of $250.40 each, totaling approximately $56,590. The sale comes as LabCorp, a $21 billion healthcare services provider with a "GOOD" InvestingPro Financial Health score, trades near its 52-week high of $258.59.
Following this sale, Summy retains ownership of 4,544.5 shares in the company. The transaction was disclosed in a filing with the Securities and Exchange Commission, reflecting the continued adherence to regulatory requirements by company insiders. According to InvestingPro data, the stock has demonstrated low price volatility, with analyst targets ranging from $232 to $293 per share. For deeper insights into LabCorp’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Laboratory Corporation of America, commonly known as Labcorp, has announced the clinical availability of Labcorp Plasma Complete, a liquid biopsy test for advanced cancer care. This test is designed to provide comprehensive genomic profiling in patients with advanced solid tumors, aiming to assist oncologists in personalizing treatment plans. Meanwhile, Truist Securities has raised Labcorp’s price target to $285, maintaining a Buy rating, citing strong fourth-quarter performance and promising guidance for 2025. Jefferies also increased its price target to $290, highlighting Labcorp’s better-than-expected fourth-quarter revenues and earnings per share, alongside strong free cash flow.
Additionally, Evercore ISI upgraded Labcorp’s stock to Outperform, with a new price target of $265, based on positive expectations for future earnings and growth in base testing. The acquisition of Invitae (OTC:NVTAQ) is expected to become accretive by the second half of 2025, contributing positively to Labcorp’s financials. Labcorp has also expanded its credit facility to $700 million, enhancing its financial flexibility. This expansion involves amendments to its receivables purchase agreement, with new participants like The Toronto-Dominion Bank (TSX:TD) and MUFG Bank Ltd. joining as committed purchasers. These developments reflect Labcorp’s strategic moves to strengthen its financial position and growth prospects.
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