Labcorp Holdings Inc. $LH Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System lifted its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,010 shares of the medical research company's stock after buying an additional 4,530 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Labcorp worth $35,002,800 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LH. Wedmont Private Capital boosted its position in shares of Labcorp by 7.5% in the second quarter. Wedmont Private Capital now owns 1,115 shares of the medical research company's stock worth $309,000 after buying an additional 78 shares during the period. Kintra Wealth LLC acquired a new position in shares of Labcorp in the 2nd quarter valued at $199,000. Guardian Wealth Management Inc. raised its position in Labcorp by 2.0% in the 2nd quarter. Guardian Wealth Management Inc. now owns 6,451 shares of the medical research company's stock worth $1,806,000 after purchasing an additional 124 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Labcorp by 6.0% in the 2nd quarter. HB Wealth Management LLC now owns 3,955 shares of the medical research company's stock valued at $1,107,000 after purchasing an additional 224 shares during the period. Finally, Saudi Central Bank increased its position in Labcorp by 88.5% during the second quarter. Saudi Central Bank now owns 5,768 shares of the medical research company's stock worth $1,615,000 after buying an additional 2,708 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LH has been the subject of a number of recent research reports. Mizuho set a $355.00 price target on shares of Labcorp in a research note on Monday, August 10th. UBS Group increased their target price on Labcorp from $361.00 to $380.00 and gave the company a "buy" rating in a research report on Friday. Bank of America lifted their target price on shares of Labcorp from $300.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $306.00 target price on shares of Labcorp in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Labcorp from $330.00 to $360.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $336.36.

Labcorp Stock Up 3.8%

Shares of LH traded up $12.11 on Tuesday, hitting $327.42. The company's stock had a trading volume of 392,991 shares, compared to its average volume of 680,112. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69. The firm's fifty day moving average price is $311.01 and its 200-day moving average price is $282.12. Labcorp Holdings Inc. has a fifty-two week low of $244.52 and a fifty-two week high of $341.80. The firm has a market capitalization of $26.55 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 1.77 and a beta of 0.88.

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

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, August 28th. Labcorp's dividend payout ratio is presently 23.82%.

Insiders Place Their Bets

In other news, EVP Bryan T. Vaughn sold 234 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 6,746 shares in the company, valued at $1,930,637.74. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 B. Anderson sold 3,000 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $318.02, for a total value of $954,060.00. Following the sale, the director owned 6,563 shares of the company's stock, valued at $2,087,165.26. The trade was a 31.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 8,919 shares of company stock valued at $2,826,593 in the last three months. 0.84% of the stock is currently owned by insiders.

Labcorp Profile

Labcorp NYSE: LH, formerly Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing and related services to physicians, hospitals, health systems, employers, government agencies and consumers.

Its diagnostics business offers routine and specialty laboratory testing, including molecular, genetic, oncology, women's health, infectious disease and pathology services.

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