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In recent trading activity, Brian J. Caveney, the Executive Vice President and President of Enterprise Diagnostics, Chief Medical (TASE:BLWV) Officer, and Chief Scientific Officer at Labcorp Holdings Inc. (NYSE:LH), sold 2,000 shares of the company’s common stock. The $21.3 billion healthcare diagnostics company has shown strong momentum, with the stock trading near its 52-week high and demonstrating low price volatility, according to InvestingPro data. The shares were sold at a price of $247.00 each, totaling approximately $494,000. Following this transaction, Caveney holds 30,066.6573 shares directly. While this insider sale occurred, InvestingPro analysis reveals management has been actively buying back shares, and 7 analysts have recently revised their earnings expectations upward. For deeper insights into Labcorp’s valuation and growth prospects, including exclusive ProTips and comprehensive financial analysis, explore the full Pro Research Report available on InvestingPro.
In other recent news, LabCorp reported its Q1 2025 earnings, revealing a revenue increase to $3.3 billion, up 5.3% year-over-year, although this figure fell short of the anticipated $3.41 billion. The company achieved an adjusted earnings per share (EPS) of $3.84, slightly surpassing the expected $3.78. Meanwhile, LabCorp’s shareholders approved new incentive plans during the company’s Annual Meeting. These include the 2025 Omnibus Incentive Plan and the 2025 Employee Stock Purchase Plan, aligning employee and shareholder interests. Additionally, Mizuho (NYSE:MFG) Securities maintained its Outperform rating on LabCorp, raising the stock target to $274. This adjustment reflects confidence in the company’s earnings visibility despite economic challenges. LabCorp also announced new product launches, including LabCorp Plasma Complete and genetic risk panel tests, as part of its strategic focus on high-growth areas. Lastly, the company is targeting $100-$125 million in cost savings through its Launchpad initiative.
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