KBC Group NV Lowers Stock Holdings in Labcorp Holdings Inc. $LH

Key Points

• KBC Group NV trimmed its Labcorp stake by 4.8% in the first quarter, selling 5,475 shares and leaving it with 108,166 shares valued at about $28.9 million.
• Labcorp’s latest results beat expectations, with Q1 EPS of $4.25 versus $4.09 expected and revenue of $3.54 billion, up 5.8% year over year.
• Analyst sentiment remains positive, with nine Buy ratings, two Hold ratings, and an average price target of $314.40; Labcorp also announced a quarterly dividend of $0.72 per share.

KBC Group NV reduced its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 4.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,166 shares of the medical research company's stock after selling 5,475 shares during the quarter. KBC Group NV owned 0.13% of Labcorp worth $28,860,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of LH. Vanguard Group Inc. boosted its stake in Labcorp by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company's stock worth $2,471,326,000 after buying an additional 37,197 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Labcorp by 103.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company's stock worth $1,343,922,000 after acquiring an additional 2,719,475 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Labcorp by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company's stock valued at $607,241,000 after purchasing an additional 22,170 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Labcorp by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company's stock valued at $534,023,000 after purchasing an additional 13,775 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company's stock valued at $604,488,000 after purchasing an additional 289,029 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Labcorp Price Performance

Shares of LH stock opened at $279.10 on Wednesday. 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 Holdings Inc. has a fifty-two week low of $244.52 and a fifty-two week high of $293.72. The firm has a market cap of $22.89 billion, a P/E ratio of 24.72, a P/E/G ratio of 1.87 and a beta of 0.89. The business's 50 day moving average price is $267.17 and its 200-day moving average price is $268.41.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping the consensus estimate of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business earned $3.84 EPS. 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. On average, equities research analysts anticipate that Labcorp Holdings Inc. will post 18 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp's dividend payout ratio is currently 25.51%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Evercore reaffirmed an "outperform" rating and set a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Labcorp in a report on Friday, May 8th. Bank of America boosted their target price on Labcorp from $300.00 to $320.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Finally, Robert W. Baird raised their price target on Labcorp from $335.00 to $338.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Labcorp presently has an average rating of "Moderate Buy" and an average price target of $314.40.

Insider Activity

In related news, EVP Kathryn W. Kyle sold 762 shares of Labcorp stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $263.89, for a total transaction of $201,084.18. Following the sale, the executive vice president directly owned 3,813 shares in the company, valued at $1,006,212.57. The trade was a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of the company's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the sale, the executive vice president directly owned 6,746 shares in the company, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,991 shares of company stock worth $1,796,696 in the last quarter. 0.84% of the stock is owned by company insiders.

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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