1,913,695 Shares in Labcorp Holdings Inc. $LH Purchased by Boston Partners

Key Points

• Boston Partners disclosed a new fourth-quarter position in Labcorp Holdings, buying 1.91 million shares valued at about $480.3 million and ending with 2.31% ownership of the company.
• Analyst sentiment remains broadly positive, with eight Buy ratings and three Hold ratings; the stock’s consensus target price is $308, despite one recent downgrade from Wall Street Zen.
• Labcorp reported better-than-expected quarterly results, posting $4.25 EPS on $3.54 billion in revenue, and it also recently paid a quarterly dividend of $0.72 per share for a 1.1% yield.

Boston Partners acquired a new position in Labcorp Holdings Inc. (NYSE:LH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,913,695 shares of the medical research company's stock, valued at approximately $480,271,000. Boston Partners owned 2.31% of Labcorp at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Labcorp during the fourth quarter worth $991,000. Integrated Wealth Concepts LLC increased its stake in shares of Labcorp by 7.9% during the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company's stock worth $565,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Labcorp by 52.2% during the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company's stock worth $82,353,000 after purchasing an additional 121,304 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Labcorp during the second quarter worth about $5,873,000. Finally, First Trust Advisors LP boosted its position in Labcorp by 83.2% during the second quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company's stock worth $22,588,000 after acquiring an additional 39,087 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on LH. Evercore reiterated an "outperform" rating and issued a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of Labcorp in a research note on Tuesday, February 17th. Wall Street Zen downgraded shares of Labcorp from a "buy" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. increased their price objective on shares of Labcorp from $319.00 to $330.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Labcorp in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $308.00.

Insider Transactions at Labcorp

In related news, EVP Kathryn W. Kyle sold 762 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares in the company, valued at approximately $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the completion of the transaction, the chief executive officer owned 107,234 shares in the company, valued at $27,291,053. This represents a 5.22% 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. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Stock Up 0.1%

LH stock opened at $265.45 on Friday. The firm has a fifty day moving average price of $262.65 and a two-hundred day moving average price of $265.77. The firm has a market cap of $21.77 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 1.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. Labcorp Holdings Inc. has a 1-year low of $241.81 and a 1-year high of $293.72.

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

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp's dividend payout ratio is presently 25.51%.

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.

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