Birch Hill Investment Advisors LLC Sells 37,071 Shares of Labcorp Holdings Inc. $LH

Key Points

• Birch Hill cut its Labcorp stake by 31.0%, selling 37,071 shares and now holds 82,505 shares worth about $20.699 million (≈0.10% of the company).
• Major institutions (Victory, Allspring, Wellington, Bank of America, Legal & General) largely increased positions, and analysts remain mostly positive — the consensus rating is Moderate Buy with an average target of $307.20.
• Insiders sold 16,113 shares (~$4.55M) in the last 90 days, and Labcorp announced a quarterly dividend of $0.72 (annualized $2.88), ex-dividend date May 29 and yield ~1.1%.

Birch Hill Investment Advisors LLC lessened its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 31.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,505 shares of the medical research company's stock after selling 37,071 shares during the period. Birch Hill Investment Advisors LLC owned about 0.10% of Labcorp worth $20,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of Labcorp by 20.0% in the third quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company's stock worth $756,878,000 after buying an additional 440,224 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Labcorp by 10.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company's stock valued at $554,728,000 after purchasing an additional 207,962 shares during the period. Wellington Management Group LLP lifted its position in Labcorp by 15.9% during the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company's stock valued at $604,488,000 after purchasing an additional 289,029 shares during the period. Bank of America Corp DE lifted its position in Labcorp by 4.0% during the third quarter. Bank of America Corp DE now owns 726,090 shares of the medical research company's stock valued at $208,431,000 after purchasing an additional 27,879 shares during the period. Finally, Legal & General Group Plc lifted its position in Labcorp by 2.0% during the third quarter. Legal & General Group Plc now owns 689,581 shares of the medical research company's stock valued at $197,951,000 after purchasing an additional 13,423 shares during the period. Institutional investors own 95.94% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on LH shares. 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. Robert W. Baird increased their price objective on shares of Labcorp from $313.00 to $326.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Morgan Stanley restated an "overweight" rating on shares of Labcorp in a research report on Tuesday, February 17th. Evercore restated an "outperform" rating and set a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. Finally, Wall Street Zen downgraded shares of Labcorp from a "buy" rating to a "hold" rating in a research report on Saturday, April 4th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Labcorp presently has an average rating of "Moderate Buy" and an average target price of $307.20.

Insider Activity

In other news, EVP Brian J. Caveney sold 1,500 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total value of $429,465.00. Following the completion of the sale, the executive vice president directly owned 30,107 shares of the company's stock, valued at $8,619,935.17. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan C. Meltzer sold 87 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total transaction of $25,266.54. Following the completion of the sale, the executive vice president directly owned 2,782 shares of the company's stock, valued at approximately $807,948.44. This trade represents a 3.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,113 shares of company stock valued at $4,547,450. 0.84% of the stock is currently owned by company insiders.

Labcorp Stock Up 1.7%

LH opened at $270.81 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72. The company has a market capitalization of $22.26 billion, a PE ratio of 25.89, a PEG ratio of 1.82 and a beta of 1.02. The firm's 50 day simple moving average is $273.67 and its two-hundred day simple moving average is $268.24.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.95 by $0.12. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.56 billion. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The company's quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $3.45 earnings per share. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. As a group, equities analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be paid 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 1.1%. Labcorp's dividend payout ratio is 27.53%.

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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