Illinois Municipal Retirement Fund Acquires 8,336 Shares of Labcorp Holdings Inc. $LH

Key Points

• Illinois Municipal Retirement Fund boosted its Labcorp stake by 16.3% in the first quarter, buying 8,336 more shares and bringing its total to 59,536 shares valued at about $15.9 million.
• Wall Street sentiment remains constructive on Labcorp (NYSE: LH), with several firms raising targets or reiterating bullish ratings; the stock currently has a consensus Moderate Buy and an average price target of $314.40.
• Labcorp reported strong quarterly results, topping EPS and revenue estimates, and also announced a quarterly dividend of $0.72 per share, implying a 1.0% yield.

Illinois Municipal Retirement Fund increased its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 16.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,536 shares of the medical research company's stock after acquiring an additional 8,336 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.07% of Labcorp worth $15,885,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Ethos Financial Group LLC bought a new position in Labcorp in the 1st quarter worth $277,000. Sanctuary Advisors LLC boosted its stake in shares of Labcorp by 17.2% during the 1st quarter. Sanctuary Advisors LLC now owns 9,877 shares of the medical research company's stock valued at $2,635,000 after purchasing an additional 1,448 shares in the last quarter. Mill Capital Management LLC increased its position in shares of Labcorp by 0.4% during the first quarter. Mill Capital Management LLC now owns 64,547 shares of the medical research company's stock valued at $17,222,000 after buying an additional 281 shares during the period. Checchi Capital Advisers LLC raised its stake in Labcorp by 16.4% in the first quarter. Checchi Capital Advisers LLC now owns 1,120 shares of the medical research company's stock worth $299,000 after buying an additional 158 shares in the last quarter. Finally, Nwam LLC bought a new position in Labcorp in the first quarter worth about $260,000. Institutional investors own 95.94% of the company's stock.

Analyst Ratings Changes

LH has been the topic of several research reports. Bank of America lifted their price objective on Labcorp from $300.00 to $320.00 and gave the company a "buy" rating in a research report on Monday. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Evercore restated an "outperform" rating and set a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Robert W. Baird upped their price target on Labcorp from $335.00 to $338.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Labcorp in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.40.

Labcorp Stock Performance

Shares of LH opened at $282.06 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The stock has a market cap of $23.13 billion, a P/E ratio of 24.98, a P/E/G ratio of 1.81 and a beta of 0.89. The business's 50 day moving average price is $265.63 and its 200-day moving average price is $267.80. Labcorp Holdings Inc. has a 52 week low of $241.81 and a 52 week high of $293.72.

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

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp's dividend payout ratio (DPR) is presently 25.51%.

Insider Activity

In other news, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction dated Monday, May 11th. The stock was 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 owned 107,234 shares of the company's stock, valued at $27,291,053. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the company's stock in a transaction dated Monday, June 8th. The stock was 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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,991 shares of company stock worth $1,796,696 over the last three months. 0.84% of the stock is currently owned by corporate insiders.

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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