Labcorp Holdings Inc. $LH Shares Bought by DNB Asset Management AS

Key Points

• DNB Asset Management AS increased its Labcorp stake by 18.2% in the fourth quarter, ending with 45,312 shares valued at about $11.4 million.
• Labcorp reported stronger-than-expected Q1 results, with EPS of $4.25 versus the $4.09 consensus and revenue of $3.54 billion, up 5.8% year over year.
• The company also announced a quarterly dividend of $0.72 per share, payable June 11, which works out to an annualized yield of about 1.2%.

DNB Asset Management AS boosted its holdings in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,312 shares of the medical research company's stock after buying an additional 6,966 shares during the quarter. DNB Asset Management AS owned 0.05% of Labcorp worth $11,368,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in Labcorp during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Labcorp during the 4th quarter worth approximately $26,000. Eagle Bay Advisors LLC acquired a new stake in Labcorp during the 4th quarter worth approximately $29,000. Hantz Financial Services Inc. lifted its holdings in Labcorp by 48.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company's stock worth $35,000 after buying an additional 40 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Labcorp by 300.0% during the 2nd quarter. Headlands Technologies LLC now owns 128 shares of the medical research company's stock worth $34,000 after buying an additional 96 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on LH. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Labcorp in a research report on Friday, May 8th. Piper Sandler increased their target price on Labcorp from $270.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, February 24th. Robert W. Baird set a $334.00 target price on Labcorp in a report on Friday, May 1st. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, Morgan Stanley reissued an "overweight" rating on shares of Labcorp in a report on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $308.00.

Insider Buying and Selling

In related news, EVP Brian J. Caveney sold 1,500 shares of Labcorp stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total transaction of $429,465.00. Following the sale, the executive vice president directly owned 30,107 shares in the company, valued at $8,619,935.17. This trade represents a 4.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction on 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 sale, the chief executive officer owned 107,234 shares in the company, valued at $27,291,053. This represents a 5.22% 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. Insiders have sold 16,656 shares of company stock worth $4,524,961 in the last ninety days. 0.84% of the stock is owned by corporate insiders.

Labcorp Price Performance

Shares of NYSE:LH opened at $250.30 on Monday. The company's fifty day moving average price is $265.33 and its 200 day moving average price is $265.55. Labcorp Holdings Inc. has a 12 month low of $239.75 and a 12 month high of $293.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. The firm has a market capitalization of $20.52 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.75 and a beta of 0.91.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the business earned $3.84 EPS. Labcorp's revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, sell-side analysts predict that Labcorp Holdings Inc. will post 17.99 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, May 29th. Labcorp's dividend payout ratio (DPR) is currently 25.51%.

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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