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In a recent transaction, Adam Schechter, President and CEO of Labcorp Holdings Inc. (NYSE:LH), a $21 billion healthcare services provider trading near its 52-week high of $258.59, sold 6,105 shares of the company’s common stock. The company has shown strong momentum with a 9.74% gain year-to-date. The shares were sold at a price of $248.73 each, amounting to a total transaction value of approximately $1.52 million. Following this sale, Schechter holds 98,962 shares directly. The transaction was executed under a pre-arranged trading plan in compliance with Rule 10b5-1 of the Securities Exchange Act. According to InvestingPro, management has been actively buying back shares, and 6 analysts have recently revised their earnings estimates upward, suggesting continued confidence in the company’s prospects.
In other recent news, LabCorp Holdings Inc reported its Q1 2025 earnings, revealing a revenue increase to $3.3 billion, which is up 5.3% year-over-year but fell short of the forecasted $3.41 billion. The company achieved an adjusted EPS of $3.84, slightly surpassing the expected $3.78. Despite the earnings beat, the revenue miss contributed to investor concerns. LabCorp has launched new products, including LabCorp Plasma Complete and genetic risk panel tests, and is targeting $100-$125 million in cost savings through its Launchpad initiative. Additionally, the company reaffirmed its guidance for enterprise revenue growth between 6.7% and 8% for the year, with adjusted EPS guidance set between $15.70 and $16.40. LabCorp’s strategic initiatives include partnerships and acquisitions, such as the acquisition of select assets from BioReference Health and North Mississippi Health Services. The company continues to focus on growth areas like oncology and women’s health, supported by strategic partnerships and product innovation.
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