Lazard Asset Management LLC Decreases Stock Holdings in Labcorp Holdings Inc. $LH

Key Points

• Lazard Asset Management cut its Labcorp stake by 20.1% in the first quarter, selling 98,742 shares and retaining 393,132 shares valued at approximately $104.9 million. Institutional investors collectively own 95.94% of the company.
• Analyst sentiment remains positive, with eight Buy ratings and two Holds. Labcorp has a “Moderate Buy” consensus rating and an average price target of $315.33, above its reported opening price of $301.03.
• Labcorp reported quarterly EPS of $4.25, beating estimates of $4.09, while revenue rose 5.8% year over year to $3.54 billion. The company also declared a quarterly dividend of $0.72 per share, equivalent to a 1.0% annualized yield.

Lazard Asset Management LLC reduced its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 20.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 393,132 shares of the medical research company's stock after selling 98,742 shares during the quarter. Lazard Asset Management LLC owned about 0.48% of Labcorp worth $104,892,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LH. REAP Financial Group LLC grew its stake in shares of Labcorp by 20.4% in the 4th quarter. REAP Financial Group LLC now owns 218 shares of the medical research company's stock worth $55,000 after buying an additional 37 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Labcorp by 1.7% in the 1st quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company's stock worth $645,000 after buying an additional 40 shares during the last quarter. Hilltop Holdings Inc. raised its position in shares of Labcorp by 2.6% during the 4th quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company's stock valued at $409,000 after buying an additional 41 shares in the last quarter. Pinnacle Associates Ltd. raised its position in shares of Labcorp by 3.9% during the 4th 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. Finally, Larson Financial Group LLC lifted its holdings in shares of Labcorp by 37.5% in the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company's stock valued at $44,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings upgraded Labcorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Robert W. Baird raised their price objective on Labcorp from $335.00 to $338.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Evercore reissued an "outperform" rating and set a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Finally, Bank of America increased their price target on Labcorp from $300.00 to $320.00 and gave the company a "buy" rating in a report on Monday, July 13th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Labcorp has a consensus rating of "Moderate Buy" and an average price target of $315.33.

Insider Buying and Selling

In related news, EVP Bryan T. Vaughn sold 234 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $66,968.46. Following the completion of the transaction, the executive vice president owned 6,746 shares in the company, valued at $1,930,637.74. The trade was a 3.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kathryn W. Kyle sold 92 shares of the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $26,329.48. Following the completion of the transaction, the executive vice president directly owned 3,904 shares in the company, valued at $1,117,285.76. This trade represents a 2.30% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 6,991 shares of company stock valued at $1,796,696. Insiders own 0.84% of the company's stock.

Labcorp Stock Performance

Shares of NYSE:LH opened at $301.03 on Tuesday. 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 Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $301.79. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.97 and a beta of 0.89. The firm's 50-day moving average is $270.30 and its 200 day moving average is $269.49.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share (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 business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the firm earned $3.84 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Research analysts predict that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp's dividend payout ratio (DPR) is currently 25.51%.

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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