Fox Run Management L.L.C. Purchases Shares of 7,086 Labcorp Holdings Inc. $LH

Key Points

• Fox Run Management initiated a new position in Labcorp, buying 7,086 shares valued at about $1.78 million in the fourth quarter.
• Labcorp reported strong quarterly results, with earnings of $4.25 per share and revenue of $3.54 billion, both above analyst expectations. Revenue rose 5.8% year over year.
• The company also announced a quarterly dividend of $0.72 per share, while analysts remain moderately bullish overall, with a consensus rating of “Moderate Buy” and an average target price of $308.

Fox Run Management L.L.C. purchased a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,086 shares of the medical research company's stock, valued at approximately $1,778,000.

Several other hedge funds also recently added to or reduced their stakes in LH. Norges Bank purchased a new position in Labcorp in the fourth quarter valued at approximately $248,006,000. Victory Capital Management Inc. boosted its holdings 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 valued at $756,878,000 after acquiring an additional 440,224 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Labcorp by 15.9% in 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 acquiring an additional 289,029 shares during the period. Marshall Wace LLP boosted its holdings in shares of Labcorp by 79.1% in the third quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company's stock valued at $178,996,000 after acquiring an additional 275,454 shares during the period. Finally, Mondrian Investment Partners LTD acquired a new stake in shares of Labcorp in the third quarter valued at approximately $75,208,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Labcorp Price Performance

Shares of NYSE LH opened at $261.67 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. The stock has a fifty day moving average price of $262.61 and a 200 day moving average price of $265.66. Labcorp Holdings Inc. has a 1-year low of $241.81 and a 1-year high of $293.72. The company has a market cap of $21.46 billion, a PE ratio of 23.18, a P/E/G ratio of 1.86 and a beta of 0.90.

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

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp's dividend payout ratio (DPR) is currently 25.51%.

Insider Buying and Selling at Labcorp

In related news, CEO Adam H. Schechter sold 5,903 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the sale, the chief executive officer directly owned 107,234 shares of the company's stock, valued at $27,291,053. This trade represents a 5.22% decrease in their ownership of the stock. The sale 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. 0.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on LH. Piper Sandler increased their price objective on Labcorp from $270.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, February 24th. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Evercore reissued an "outperform" rating and issued a $300.00 price objective on shares of Labcorp in a report on Wednesday, April 8th. Robert W. Baird set a $334.00 price objective on Labcorp in a report on Friday, May 1st. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Labcorp in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $308.00.

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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