Labcorp Holdings Inc. $LH Shares Sold by Birch Hill Investment Advisors LLC

Key Points

• Birch Hill Investment Advisors cut its Labcorp position by 26.3% in the third quarter, selling 13,439 shares and retaining 37,629 shares valued at approximately $11.6 million.
• Labcorp shares opened at $318.44, down 2.0%, while the company reported quarterly earnings of $4.99 per share and revenue of $3.73 billion, both ahead of analyst expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $337.73; institutional investors own 95.94% of the stock.

Birch Hill Investment Advisors LLC decreased its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 26.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,629 shares of the medical research company's stock after selling 13,439 shares during the period. Birch Hill Investment Advisors LLC's holdings in Labcorp were worth $11,594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Allied Private Wealth LLC acquired a new position in shares of Labcorp during the 2nd quarter worth about $33,000. Cedar Mountain Advisors LLC lifted its position in shares of Labcorp by 786.7% in the first quarter. Cedar Mountain Advisors LLC now owns 133 shares of the medical research company's stock valued at $35,000 after buying an additional 118 shares during the last quarter. SHP Wealth Management acquired a new position in shares of Labcorp during the 4th quarter worth approximately $40,000. Jones Financial Companies Lllp acquired a new stake in Labcorp during the 2nd quarter valued at $58,000. Finally, Steph & Co. bought a new position in shares of Labcorp in the first quarter valued at about $64,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Trading Down 2.0%

Shares of Labcorp stock opened at $318.44 on Friday. Labcorp Holdings Inc. has a 12-month low of $244.52 and a 12-month high of $341.80. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $320.58 and a 200 day simple moving average of $289.08. The company has a market capitalization of $25.83 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business earned $4.35 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, sell-side analysts anticipate that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LH shares. Barclays boosted their target price on shares of Labcorp from $320.00 to $330.00 and gave the company an "equal weight" rating in a research report on Friday, September 11th. Weiss Ratings upgraded shares of Labcorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, October 6th. Piper Sandler lifted their price target on Labcorp from $300.00 to $309.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $306.00 price objective on shares of Labcorp in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Labcorp from $330.00 to $360.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $337.73.

Insider Buying and Selling at Labcorp

In related news, CEO Adam H. Schechter sold 4,669 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $320.37, for a total value of $1,495,807.53. Following the sale, the chief executive officer owned 102,565 shares in the company, valued at $32,858,749.05. This represents a 4.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kerrii B. Anderson sold 3,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $318.02, for a total transaction of $954,060.00. Following the transaction, the director directly owned 6,563 shares of the company's stock, valued at $2,087,165.26. The trade was a 31.37% 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 sold a total of 8,593 shares of company stock worth $2,733,295 over the last three months. 0.84% of the stock is owned by insiders.

About Labcorp

Labcorp NYSE: LH, formally Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing, drug development services and technology-enabled laboratory solutions to healthcare providers, pharmaceutical and biotechnology companies, government agencies and consumers.

Its diagnostics business offers routine and specialty laboratory testing, including testing related to oncology, women's health, infectious diseases, genetics and genomics.

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