7,609 Shares in Labcorp Holdings Inc. $LH Purchased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management opened a new position in Labcorp Holdings, buying 7,609 shares worth about $1.91 million in the fourth quarter.
• Institutional ownership remains very high, with 95.94% of Labcorp shares held by institutional investors and hedge funds. Several other firms also boosted or initiated positions, including Goldman Sachs and First Trust Advisors.
• Labcorp’s latest results beat expectations, with Q1 EPS of $4.25 versus $4.09 estimated and revenue of $3.54 billion, up 5.8% year over year. The company also announced a quarterly dividend of $0.72 per share to be paid June 11.

iA Global Asset Management Inc. acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,609 shares of the medical research company's stock, valued at approximately $1,909,000.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target 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. Piper Sandler raised their price objective on shares of Labcorp from $270.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Morgan Stanley reissued an "overweight" rating on shares of Labcorp in a research note on Tuesday, February 17th. Evercore reissued an "outperform" rating and issued a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Finally, Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $308.00.

Insider Transactions at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 548 shares of the business's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $284.91, for a total transaction of $156,130.68. Following the completion of the sale, the executive vice president owned 2,579 shares in the company, valued at approximately $734,782.89. The trade was a 17.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 5,903 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer owned 107,234 shares of the company's stock, 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. In the last quarter, insiders sold 16,656 shares of company stock worth $4,524,961. 0.84% of the stock is currently owned by insiders.

Labcorp Stock Up 2.0%

Shares of NYSE:LH opened at $255.30 on Tuesday. The company has a market capitalization of $20.93 billion, a PE ratio of 22.61, a P/E/G ratio of 1.75 and a beta of 0.91. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a twelve month low of $239.75 and a twelve month high of $293.72. The firm has a 50 day simple moving average of $264.92 and a 200-day simple moving average of $265.52.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share 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 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 was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, equities analysts predict that Labcorp Holdings Inc. will post 17.99 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, May 29th. Labcorp's payout ratio is currently 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.

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.