Madison Asset Management LLC Sells 30,244 Shares of Labcorp Holdings Inc. $LH

Key Points

• Madison Asset Management reduced its Labcorp stake by 5.4% in the fourth quarter, selling 30,244 shares and leaving it with 525,878 shares valued at about $131.9 million.
• Brokerages remain generally positive on Labcorp (NYSE: LH), with several firms reiterating or raising bullish ratings; the stock currently carries a consensus “Moderate Buy” rating and an average price target of $308.
• Labcorp reported better-than-expected first-quarter results, including EPS of $4.25 versus $4.09 expected and revenue of $3.54 billion, while also announcing a quarterly dividend of $0.72 per share.

Madison Asset Management LLC trimmed its holdings in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 525,878 shares of the medical research company's stock after selling 30,244 shares during the period. Labcorp makes up about 1.5% of Madison Asset Management LLC's investment portfolio, making the stock its 14th largest holding. Madison Asset Management LLC owned 0.63% of Labcorp worth $131,932,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. World Investment Advisors increased its holdings in Labcorp by 23.2% in the 4th quarter. World Investment Advisors now owns 1,724 shares of the medical research company's stock worth $433,000 after buying an additional 325 shares in the last quarter. Kepler Cheuvreux Suisse SA bought a new position in Labcorp during the 4th quarter valued at about $3,389,000. Dynamic Wealth Strategies LLC boosted its holdings in shares of Labcorp by 28.3% during the 4th quarter. Dynamic Wealth Strategies LLC now owns 862 shares of the medical research company's stock valued at $216,000 after acquiring an additional 190 shares during the last quarter. NewEdge Wealth LLC purchased a new stake in shares of Labcorp during the 4th quarter valued at about $242,000. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Labcorp by 32.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 3,992 shares of the medical research company's stock worth $1,002,000 after acquiring an additional 985 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on LH. Evercore restated an "outperform" rating and set a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. JPMorgan Chase & Co. lifted their target price on shares of Labcorp from $319.00 to $330.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Robert W. Baird set a $334.00 target price on shares of Labcorp in a research note on Friday, May 1st. Morgan Stanley reissued an "overweight" rating on shares of Labcorp in a report on Tuesday, February 17th. Finally, Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of "Moderate Buy" and an average target price of $308.00.

Insider Buying and Selling

In related news, EVP Jonathan C. Meltzer sold 87 shares of the firm's stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total value of $25,266.54. Following the transaction, the executive vice president directly owned 2,782 shares of the company's stock, valued at approximately $807,948.44. This trade represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 8,705 shares of the business's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total value of $2,437,051.80. Following the sale, the chief executive officer directly owned 80,773 shares of the company's stock, valued at $22,613,209.08. This represents a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,840 shares of company stock valued at $3,047,914 in the last 90 days. 0.84% of the stock is owned by company insiders.

Labcorp Price Performance

Shares of NYSE:LH opened at $257.13 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $21.08 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.79 and a beta of 0.91. The firm's 50 day moving average price is $267.17 and its 200-day moving average price is $266.12. Labcorp Holdings Inc. has a twelve month low of $239.67 and a twelve month high of $293.72.

Labcorp (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.51 billion. During the same period in the prior year, the company earned $3.84 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities research analysts expect that Labcorp Holdings Inc. will post 17.99 EPS for the current year.

Labcorp Dividend Announcement

The business 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. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, May 29th. Labcorp's dividend payout ratio is 25.51%.

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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