AMI Asset Management Corp Trims Holdings in Labcorp Holdings Inc. $LH

Key Points

• AMI Asset Management Corp reduced its Labcorp stake by 3.0% in the first quarter, selling 5,280 shares and leaving it with 173,482 shares valued at about $46.3 million.
• Labcorp’s latest quarterly results beat expectations, with EPS of $4.25 versus $4.09 expected and revenue of $3.54 billion, up 5.8% year over year. The company also raised its FY 2026 EPS guidance to $17.70-$18.35.
• Insider selling continued, with CEO Adam H. Schechter and EVP Kathryn W. Kyle both selling shares under pre-arranged trading plans. Meanwhile, analysts remain generally positive, with a Moderate Buy consensus and an average target price of $308.

AMI Asset Management Corp trimmed its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 173,482 shares of the medical research company's stock after selling 5,280 shares during the quarter. Labcorp accounts for about 3.0% of AMI Asset Management Corp's holdings, making the stock its 12th largest position. AMI Asset Management Corp owned about 0.21% of Labcorp worth $46,287,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. UBS Group AG increased its position in Labcorp by 2.2% in the fourth quarter. UBS Group AG now owns 495,535 shares of the medical research company's stock worth $124,320,000 after purchasing an additional 10,706 shares during the last quarter. Cinctive Capital Management LP bought a new position in Labcorp during the third quarter valued at $3,297,000. 8 Knots Management LLC lifted its position in Labcorp by 96.6% during the third quarter. 8 Knots Management LLC now owns 204,859 shares of the medical research company's stock valued at $58,807,000 after purchasing an additional 100,675 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Labcorp by 50.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,419 shares of the medical research company's stock worth $7,871,000 after buying an additional 9,231 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co purchased a new position in shares of Labcorp in the 3rd quarter worth $3,576,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Insider Buying and Selling at Labcorp

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

Labcorp Price Performance

Shares of LH stock opened at $279.60 on Tuesday. The company has a market capitalization of $22.93 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.90 and a beta of 0.90. The company's 50-day simple moving average is $261.22 and its two-hundred day simple moving average is $265.68. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72. 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 (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, topping analysts' consensus estimates of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the firm earned $3.84 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities analysts anticipate that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were paid a $0.72 dividend. The ex-dividend date was Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp's dividend payout ratio is presently 25.51%.

Analyst Upgrades and Downgrades

LH has been the topic of several recent research reports. Wall Street Zen lowered Labcorp from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research report on Friday, May 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of Labcorp in a research note on Friday, May 8th. Finally, Evercore restated an "outperform" rating and issued a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Labcorp has a consensus rating of "Moderate Buy" and an average target price of $308.00.

About Labcorp

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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