Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 8,750 Shares of Labcorp Holdings Inc. $LH

Key Points

• Fjarde AP Fonden boosted its Labcorp stake by 56.3% in the first quarter, buying 8,750 additional shares and bringing its total holdings to 24,297 shares valued at about $6.48 million.
• Labcorp’s stock has received mixed but generally positive analyst attention: the company has an average rating of Moderate Buy with a consensus target price of $308, though one recent downgrade moved it to Hold.
• The company reported strong quarterly results, with EPS of $4.25 topping estimates and revenue of $3.54 billion also beating expectations, while it continued paying a quarterly dividend of $0.72 per share.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 56.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,297 shares of the medical research company's stock after purchasing an additional 8,750 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Labcorp were worth $6,483,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LH. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Labcorp during the 4th quarter valued at $26,000. Hilton Head Capital Partners LLC acquired a new position in Labcorp in the 4th quarter worth $27,000. JPL Wealth Management LLC bought a new position in shares of Labcorp during the 3rd quarter worth approximately $28,000. Eagle Bay Advisors LLC acquired a new stake in Labcorp in the 4th quarter valued at $29,000. Finally, DV Equities LLC bought a new position in Labcorp in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Ratings Changes

LH has been the subject of several recent analyst reports. Evercore reiterated an "outperform" rating and issued a $300.00 target price on shares of Labcorp in a research note on Wednesday, April 8th. Robert W. Baird set a $334.00 target price on shares of Labcorp in a research report on Friday, May 1st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Labcorp in a research report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Labcorp from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Labcorp presently has an average rating of "Moderate Buy" and a consensus target price of $308.00.

Labcorp Trading Down 0.1%

NYSE LH opened at $286.69 on Monday. 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 $241.81 and a 12 month high of $293.72. The business's 50-day moving average price is $262.24 and its two-hundred day moving average price is $266.27. The firm has a market capitalization of $23.51 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.01 and a beta of 0.89.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.09 by $0.16. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The firm's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp's dividend payout ratio is presently 25.51%.

Insiders Place Their Bets

In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $254.50, for a total value of $1,502,313.50. Following the transaction, the chief executive officer directly owned 107,234 shares of the company's stock, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the completion of the transaction, the executive vice president directly owned 3,813 shares in the company, valued at approximately $1,006,212.57. The trade was a 16.66% 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. 0.84% of the stock is currently owned by company insiders.

About Labcorp

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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