Bessemer Group Inc. Acquires 209,947 Shares of Labcorp Holdings Inc. $LH

Key Points

• Bessemer Group Inc. increased its Labcorp Holdings stake by 114.6% in Q4, buying 209,947 additional shares and bringing its total to 393,189 shares valued at about $98.6 million.
• Analyst sentiment remains constructive on Labcorp (NYSE: LH), with eight Buy ratings and three Hold ratings; the consensus target price is $308, and recent firms have raised price objectives as high as $334.
• Labcorp reported stronger-than-expected quarterly results, posting $4.25 EPS on revenue of $3.54 billion, and also announced a quarterly dividend of $0.72 per share payable June 11.

Bessemer Group Inc. grew its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 114.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 393,189 shares of the medical research company's stock after acquiring an additional 209,947 shares during the quarter. Bessemer Group Inc. owned 0.47% of Labcorp worth $98,644,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LH. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Labcorp during the fourth quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in Labcorp during the third quarter worth about $28,000. Eagle Bay Advisors LLC bought a new stake in Labcorp during the fourth quarter worth about $29,000. Beacon Financial Strategies CORP bought a new stake in Labcorp during the fourth quarter worth about $33,000. Finally, Headlands Technologies LLC lifted its position in Labcorp by 300.0% during the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company's stock worth $34,000 after purchasing an additional 96 shares during the period. Institutional investors own 95.94% of the company's stock.

Analyst Ratings Changes

LH has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Labcorp in a research report on Tuesday, February 17th. JPMorgan Chase & Co. upped their price objective on shares of Labcorp from $319.00 to $330.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Piper Sandler upped their price objective on shares of Labcorp from $270.00 to $300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Evercore reaffirmed an "outperform" rating and set a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. Finally, Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $308.00.

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 8,705 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total value of $2,437,051.80. Following the completion of the transaction, the chief executive officer owned 80,773 shares of the company's stock, valued at approximately $22,613,209.08. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian J. Caveney sold 1,500 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the completion of the transaction, the executive vice president directly owned 30,107 shares of the company's stock, valued at $8,619,935.17. This trade represents a 4.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,656 shares of company stock valued at $4,524,961. 0.84% of the stock is currently owned by insiders.

Labcorp Stock Down 1.5%

LH stock opened at $250.30 on Friday. The stock has a market capitalization of $20.52 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 1.78 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 12 month low of $239.75 and a 12 month high of $293.72. The firm has a 50-day moving average price of $265.33 and a 200-day moving average price of $265.62.

Labcorp (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping analysts' consensus estimates of $4.09 by $0.16. The firm had revenue of $3.54 billion during the quarter, compared to analysts' expectations of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business'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 business earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities research analysts anticipate that Labcorp Holdings Inc. will post 17.99 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.2%. Labcorp's dividend payout ratio is 25.51%.

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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