16,756 Shares in Labcorp Holdings Inc. $LH Acquired by SEB Asset Management AB

Key Points

• SEB Asset Management AB initiated a new position in Labcorp Holdings, buying 16,756 shares valued at about $4.47 million in the first quarter.
• Labcorp reported strong quarterly results, with EPS of $4.25 topping estimates and revenue of $3.54 billion also beating expectations; revenue rose 5.8% year over year.
• The company also announced a quarterly dividend of $0.72 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $314.40.

SEB Asset Management AB bought a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,756 shares of the medical research company's stock, valued at approximately $4,471,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Labcorp by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company's stock worth $2,471,326,000 after purchasing an additional 37,197 shares during the last quarter. Victory Capital Management Inc. grew its stake in Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company's stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Labcorp by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company's stock valued at $607,241,000 after purchasing an additional 22,170 shares during the last quarter. Geode Capital Management LLC raised its holdings in Labcorp by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company's stock worth $534,023,000 after purchasing an additional 13,775 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Labcorp by 15.9% in the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company's stock worth $604,488,000 after purchasing an additional 289,029 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Labcorp Price Performance

Shares of NYSE LH opened at $281.85 on Thursday. Labcorp Holdings Inc. has a fifty-two week low of $244.52 and a fifty-two week high of $293.72. The company has a market cap of $23.11 billion, a PE ratio of 24.96, a P/E/G ratio of 1.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. The business has a 50-day simple moving average of $267.72 and a two-hundred day simple moving average of $268.63.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.16. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp's dividend payout ratio (DPR) is currently 25.51%.

Insiders Place Their Bets

In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the sale, the chief executive officer owned 107,234 shares of the company's stock, valued at approximately $27,291,053. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the sale, the executive vice president owned 6,746 shares in the company, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 6,991 shares of company stock valued at $1,796,696. Insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Labcorp in a report on Friday, May 8th. Bank of America boosted their price objective on shares of Labcorp from $300.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Evercore reissued an "outperform" rating and set a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Finally, Robert W. Baird lifted their price target on shares of Labcorp from $335.00 to $338.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $314.40.

Labcorp Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp NYSE: LH, is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp's core businesses encompass clinical laboratory testing and pharmaceutical development services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.