Labcorp Holdings Inc. $LH Shares Acquired by River Road Asset Management LLC

Key Points

• River Road Asset Management increased its Labcorp stake by 13.4% in the fourth quarter, ending with 408,256 shares valued at about $102.4 million.
• Labcorp reported strong quarterly results, with EPS of $4.25 beating estimates and revenue of $3.54 billion topping forecasts; revenue rose 5.8% year over year.
• The company also paid a quarterly dividend of $0.72 per share and has a consensus analyst rating of Moderate Buy with an average price target of $308.

River Road Asset Management LLC grew its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 408,256 shares of the medical research company's stock after acquiring an additional 48,274 shares during the quarter. River Road Asset Management LLC owned about 0.49% of Labcorp worth $102,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LH. Brighton Jones LLC acquired a new position in Labcorp in the fourth quarter valued at approximately $991,000. Integrated Wealth Concepts LLC increased its stake in Labcorp by 7.9% in the first 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in Labcorp by 52.2% during the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company's stock worth $82,353,000 after purchasing an additional 121,304 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Labcorp during the second quarter worth approximately $5,873,000. Finally, First Trust Advisors LP lifted its position 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 worth $22,588,000 after buying an additional 39,087 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Price Performance

Shares of NYSE LH opened at $255.96 on Friday. The stock has a market cap of $20.99 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.82 and a beta of 0.90. Labcorp Holdings Inc. has a twelve month low of $241.81 and a twelve month high of $293.72. The stock has a 50 day moving average of $261.71 and a two-hundred day moving average of $265.56. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

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

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were paid a dividend of $0.72 per share. The ex-dividend date was Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp's dividend payout ratio is currently 25.51%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LH shares. Weiss Ratings restated a "buy (b-)" rating on shares of Labcorp in a report on Friday, May 8th. Robert W. Baird set a $334.00 price target on shares of Labcorp in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Labcorp from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Evercore reaffirmed an "outperform" rating and set a $300.00 price objective on shares of Labcorp in a report on Wednesday, April 8th. Finally, Piper Sandler raised their price objective on Labcorp from $270.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Labcorp has an average rating of "Moderate Buy" and a consensus price target of $308.00.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the transaction, the chief executive officer directly owned 107,234 shares of the company's stock, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Labcorp stock in a transaction on Monday, June 8th. The shares were 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. This represents a 16.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.84% of the company's stock.

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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