Labcorp Holdings Inc. $LH Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC cut its Labcorp Holdings stake by 19.4% in the fourth quarter, selling 8,000 shares and leaving it with 33,261 shares valued at about $8.35 million.
• Insider selling continued, with EVP Brian J. Caveney and EVP Der Vaart Sandra D. Van both reducing their positions; company insiders sold 16,656 shares total over the last quarter.
• Labcorp beat quarterly expectations with EPS of $4.25 on revenue of $3.54 billion, and it also announced a $0.72 quarterly dividend payable June 11, while analysts maintain a Moderate Buy consensus target of $308.

Gabelli Funds LLC lowered its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 19.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,261 shares of the medical research company's stock after selling 8,000 shares during the period. Gabelli Funds LLC's holdings in Labcorp were worth $8,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in LH. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Labcorp during the 4th quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new stake in shares of Labcorp during the 3rd quarter worth approximately $28,000. Eagle Bay Advisors LLC acquired a new stake in shares of Labcorp during the 4th quarter worth approximately $29,000. Beacon Financial Strategies CORP acquired a new stake in shares of Labcorp during the 4th quarter worth approximately $33,000. Finally, Headlands Technologies LLC increased its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Activity

In other news, EVP Brian J. Caveney sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total value of $429,465.00. Following the completion of the transaction, the executive vice president owned 30,107 shares of the company's stock, valued at approximately $8,619,935.17. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $284.91, for a total transaction of $156,130.68. Following the completion of the transaction, the executive vice president directly owned 2,579 shares of the company's stock, valued at approximately $734,782.89. The trade was a 17.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 16,656 shares of company stock valued at $4,524,961. 0.84% of the stock is currently owned by company insiders.

Labcorp Trading Down 1.0%

NYSE LH opened at $252.96 on Wednesday. The firm has a 50 day simple moving average of $264.58 and a 200-day simple moving average of $265.55. 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 one year low of $239.75 and a one year high of $293.72. The firm has a market cap of $20.74 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.79 and a beta of 0.91.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating 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 quarter last year, the firm posted $3.84 earnings per share. The business'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. Equities research analysts anticipate that Labcorp Holdings Inc. will post 17.99 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp's dividend payout ratio (DPR) is presently 25.51%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LH. Robert W. Baird set a $334.00 target price on shares of Labcorp in a research note on Friday, May 1st. Evercore reaffirmed an "outperform" rating and set a $300.00 target price on shares of Labcorp in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Labcorp in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their target price on shares of Labcorp from $319.00 to $330.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 18th. Finally, Piper Sandler increased their target price on shares of Labcorp from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $308.00.

About Labcorp

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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