Eurizon Capital SGR S.p.A. Invests $17.36 Million in Labcorp Holdings Inc. $LH

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Labcorp Holdings, buying 69,188 shares valued at about $17.36 million in the fourth quarter. The stake represented roughly 0.08% of the company.
• Labcorp reported better-than-expected quarterly results, with earnings of $4.25 per share versus $4.09 expected and revenue of $3.54 billion versus $3.51 billion anticipated. Revenue rose 5.8% year over year.
• The company also announced a quarterly dividend of $0.72 per share, equal to a $2.88 annualized payout and a 1.1% yield. Analysts currently rate the stock a Moderate Buy with a consensus price target of $308.

Eurizon Capital SGR S.p.A. acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 69,188 shares of the medical research company's stock, valued at approximately $17,361,000. Eurizon Capital SGR S.p.A. owned about 0.08% of Labcorp at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. UBS Group AG lifted its position in shares of Labcorp by 2.2% during the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company's stock worth $124,320,000 after buying an additional 10,706 shares during the last quarter. Dakota Wealth Management lifted its position in shares of Labcorp by 98.6% during the 3rd quarter. Dakota Wealth Management now owns 10,303 shares of the medical research company's stock worth $2,958,000 after buying an additional 5,116 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of Labcorp by 166.6% during the 3rd quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company's stock worth $3,477,000 after buying an additional 7,568 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Labcorp by 12.0% during the 3rd quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company's stock worth $12,859,000 after buying an additional 4,800 shares during the last quarter. Finally, Cinctive Capital Management LP purchased a new stake in shares of Labcorp during the 3rd quarter worth approximately $3,297,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Labcorp Stock Up 0.1%

LH stock opened at $260.21 on Monday. The company has a fifty day moving average price of $263.22 and a 200 day moving average price of $265.87. Labcorp Holdings Inc. has a 12 month low of $241.81 and a 12 month high of $293.72. The company has a market cap of $21.34 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90. 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 results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating the consensus estimate of $4.09 by $0.16. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. Labcorp's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Sell-side analysts expect that Labcorp Holdings Inc. will post 17.99 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 29th. Labcorp's payout ratio is currently 25.51%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LH. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research report on Friday, May 1st. Piper Sandler upped their price target on shares of Labcorp from $270.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, February 24th. Evercore reiterated an "outperform" rating and issued a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target 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. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $308.00.

Insider Transactions at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 8,705 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 80,773 shares of the company's stock, valued at approximately $22,613,209.08. The trade was a 9.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company's stock.

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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