AXQ Capital LP Invests $1.01 Million in Labcorp Holdings Inc. $LH

Key Points

• AXQ Capital acquired 3,602 Labcorp shares worth approximately $1.01 million during the second quarter. Institutional investors collectively own 95.94% of the company.
• Analysts maintain a favorable outlook, with nine Buy ratings and three Holds, an overall “Moderate Buy” consensus, and an average price target of $330.
• Labcorp exceeded quarterly earnings and revenue expectations, reporting $4.99 EPS and $3.73 billion in revenue, while declaring a quarterly dividend of $0.72 per share.

AXQ Capital LP acquired a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,602 shares of the medical research company's stock, valued at approximately $1,009,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LH. Continuum Advisory LLC purchased a new stake in shares of Labcorp during the second quarter worth about $83,000. Nykredit A S acquired a new position in Labcorp in the 2nd quarter valued at $7,876,000. Nwam LLC lifted its stake in shares of Labcorp by 10.6% during the 2nd quarter. Nwam LLC now owns 1,078 shares of the medical research company's stock worth $302,000 after purchasing an additional 103 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Labcorp by 3.1% during the 2nd quarter. Rehmann Capital Advisory Group now owns 3,655 shares of the medical research company's stock worth $1,023,000 after purchasing an additional 110 shares during the period. Finally, Camelot Portfolios LLC boosted its holdings in shares of Labcorp by 44.3% during the second quarter. Camelot Portfolios LLC now owns 1,835 shares of the medical research company's stock worth $514,000 after purchasing an additional 563 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on LH shares. Robert W. Baird set a $352.00 target price on Labcorp in a research note on Friday, July 31st. Piper Sandler lifted their price target on Labcorp from $300.00 to $309.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Morgan Stanley upped their price objective on shares of Labcorp from $308.00 to $338.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Mizuho set a $355.00 price objective on shares of Labcorp in a report on Monday, August 10th. Finally, Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $330.00.

Insider Activity at Labcorp

In other news, EVP Bryan Vaughn sold 234 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $66,968.46. Following the sale, the executive vice president directly owned 6,746 shares of the company's stock, valued at $1,930,637.74. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, Director Kerrii Anderson sold 3,000 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $318.02, for a total transaction of $954,060.00. Following the completion of the transaction, the director owned 6,563 shares of the company's stock, valued at approximately $2,087,165.26. The trade was a 31.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 9,681 shares of company stock worth $3,027,677. 0.84% of the stock is owned by corporate insiders.

Labcorp Stock Down 1.4%

Labcorp stock opened at $326.83 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80. Labcorp Holdings Inc. has a one year low of $244.52 and a one year high of $341.80. The company has a 50-day simple moving average of $306.88 and a 200-day simple moving average of $280.62. The firm has a market capitalization of $26.51 billion, a P/E ratio of 27.03, a P/E/G ratio of 1.85 and a beta of 0.88.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.78 by $0.21. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the company posted $4.35 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, equities analysts expect that Labcorp Holdings Inc. will post 18.32 earnings per share for the current year.

Labcorp Announces Dividend

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 annualized dividend and a dividend yield of 0.9%. Labcorp's dividend payout ratio is currently 23.82%.

Labcorp Company 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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