Goldman Sachs Group Inc. Purchases 173,315 Shares of Labcorp Holdings Inc. $LH

Key Points

• Goldman Sachs increased its Labcorp stake by 41.1% in the fourth quarter, buying 173,315 additional shares and bringing its total holding to 595,463 shares worth about $149.4 million.
• Labcorp reported strong quarterly results, with EPS of $4.25 topping estimates and revenue of $3.54 billion also beating expectations. Revenue rose 5.8% year over year, and the company reaffirmed guidance for FY 2026 EPS of 17.7 to 18.35.
• The company announced a quarterly dividend of $0.72 per share, payable June 11, while analysts remain broadly constructive with an average price target of $308 and a “Moderate Buy” rating.

Goldman Sachs Group Inc. lifted its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 41.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 595,463 shares of the medical research company's stock after purchasing an additional 173,315 shares during the quarter. Goldman Sachs Group Inc. owned 0.72% of Labcorp worth $149,390,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LH. Brighton Jones LLC purchased a new position in shares of Labcorp during the fourth quarter worth approximately $991,000. Integrated Wealth Concepts LLC boosted its stake in shares of Labcorp by 7.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company's stock valued at $565,000 after purchasing an additional 177 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Labcorp during the 2nd quarter valued at $5,873,000. First Trust Advisors LP grew its holdings in shares of Labcorp by 83.2% during the 2nd quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company's stock valued at $22,588,000 after purchasing an additional 39,087 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in Labcorp by 130.2% in the 2nd quarter. Baird Financial Group Inc. now owns 8,648 shares of the medical research company's stock worth $2,270,000 after purchasing an additional 4,892 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Trading Up 0.2%

NYSE LH opened at $265.80 on Monday. The stock has a market cap of $21.80 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. Labcorp Holdings Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $293.72. The stock has a 50 day simple moving average of $262.75 and a two-hundred day simple moving average of $265.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73.

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

Labcorp Dividend Announcement

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

Insider Buying and Selling

In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of the company'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 completion of the transaction, the chief executive officer directly owned 107,234 shares in the company, valued at approximately $27,291,053. This represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on LH. 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. Morgan Stanley reissued an "overweight" rating on shares of Labcorp in a research note on Tuesday, February 17th. Weiss Ratings restated a "buy (b-)" rating on shares of Labcorp in a report on Friday, May 8th. Evercore restated an "outperform" rating and set a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Finally, Robert W. Baird set a $334.00 price objective on Labcorp in a research report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and an average price target of $308.00.

Labcorp 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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