Labcorp Holdings Inc. $LH Holdings Trimmed by Mondrian Investment Partners LTD

Key Points

• Mondrian Investment Partners cut its Labcorp stake by 55.3% in the fourth quarter, selling 144,829 shares and ending with 117,165 shares worth about $29.4 million.
• Labcorp insiders also sold stock, including CEO Adam H. Schechter, who sold 5,903 shares in a pre-arranged trading plan; insiders have sold 16,656 shares over the last 90 days.
• The company beat quarterly expectations, reporting EPS of $4.25 on revenue of $3.54 billion, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $308.

Mondrian Investment Partners LTD lowered its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 55.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,165 shares of the medical research company's stock after selling 144,829 shares during the quarter. Mondrian Investment Partners LTD owned 0.14% of Labcorp worth $29,394,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Hantz Financial Services Inc. boosted its stake in Labcorp by 48.8% during the third quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company's stock valued at $35,000 after buying an additional 40 shares in the last quarter. Advisor OS LLC boosted its stake in Labcorp by 5.4% during the third quarter. Advisor OS LLC now owns 821 shares of the medical research company's stock valued at $236,000 after buying an additional 42 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Labcorp by 3.9% during the fourth quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company's stock valued at $282,000 after buying an additional 42 shares in the last quarter. Larson Financial Group LLC boosted its stake in Labcorp by 37.5% during the third quarter. Larson Financial Group LLC now owns 154 shares of the medical research company's stock valued at $44,000 after buying an additional 42 shares in the last quarter. Finally, Somerset Trust Co boosted its stake in Labcorp by 6.0% during the fourth quarter. Somerset Trust Co now owns 861 shares of the medical research company's stock valued at $216,000 after buying an additional 49 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

Insiders Place Their Bets

In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the firm's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $284.91, for a total value of $156,130.68. Following the sale, the executive vice president owned 2,579 shares of the company's stock, valued at $734,782.89. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,656 shares of company stock worth $4,524,961. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on LH shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Labcorp in a research note on Tuesday, February 17th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Labcorp in a research report on Friday, May 8th. Piper Sandler increased their price target on Labcorp from $270.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. increased their price target on Labcorp from $319.00 to $330.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Finally, Evercore reiterated an "outperform" rating and issued a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $308.00.

Labcorp Trading Up 1.8%

NYSE:LH opened at $260.37 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. Labcorp Holdings Inc. has a 1-year low of $239.75 and a 1-year high of $293.72. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The stock has a fifty day simple moving average of $263.79 and a 200 day simple moving average of $265.56.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings results 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. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the company posted $3.84 EPS. Labcorp'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 17.99 earnings per share for the current year.

Labcorp Dividend Announcement

The firm 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. The ex-dividend date is Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp's dividend payout ratio (DPR) is presently 25.51%.

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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