Mitsubishi UFJ Asset Management Co. Ltd. Has $44.63 Million Stock Holdings in Labcorp Holdings Inc. $LH

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Labcorp by 5.2% in the fourth quarter, bringing its holding to 177,338 shares valued at about $44.63 million.
• Labcorp reported better-than-expected first-quarter results, with EPS of $4.25 versus estimates of $4.09 and revenue of $3.54 billion versus $3.51 billion expected. Revenue rose 5.8% year over year, and the company reaffirmed FY 2026 EPS guidance of 17.70 to 18.35.
• The company announced a quarterly dividend of $0.72 per share, payable June 11, implying an annualized yield of about 1.1%. Analysts remain generally positive, with an average rating of Moderate Buy and an average price target of $308.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,338 shares of the medical research company's stock after purchasing an additional 8,748 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.21% of Labcorp worth $44,629,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LH. Victory Capital Management Inc. increased its stake in shares of Labcorp by 20.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company's stock worth $756,878,000 after purchasing an additional 440,224 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company's stock worth $604,488,000 after purchasing an additional 289,029 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Labcorp by 79.1% during the 3rd quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company's stock worth $178,996,000 after purchasing an additional 275,454 shares during the last quarter. Mondrian Investment Partners LTD acquired a new position in shares of Labcorp during the 3rd quarter worth about $75,208,000. Finally, Woodline Partners LP increased its stake in shares of Labcorp by 598.1% during the 3rd quarter. Woodline Partners LP now owns 287,146 shares of the medical research company's stock worth $82,428,000 after purchasing an additional 246,014 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Stock Performance

Shares of LH stock opened at $253.99 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. The company has a market capitalization of $20.83 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 1.81 and a beta of 0.91. Labcorp Holdings Inc. has a 52 week low of $239.67 and a 52 week high of $293.72. The company has a 50-day simple moving average of $269.03 and a 200 day simple moving average of $266.77.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.09 by $0.16. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, sell-side analysts predict that Labcorp Holdings Inc. will post 17.99 earnings per share for the current year.

Labcorp Announces Dividend

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

Insider Activity at Labcorp

In related news, EVP Jonathan C. Meltzer sold 87 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $290.42, for a total transaction of $25,266.54. Following the completion of the transaction, the executive vice president directly owned 2,782 shares in the company, valued at $807,948.44. This represents a 3.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $284.91, for a total transaction of $156,130.68. Following the transaction, the executive vice president owned 2,579 shares of the company's stock, valued at approximately $734,782.89. This represents a 17.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,113 shares of company stock valued at $4,547,450 in the last quarter. 0.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Evercore reaffirmed an "outperform" rating and set a $300.00 target price on shares of Labcorp in a 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 report on Wednesday, February 18th. Robert W. Baird set a $334.00 target price on shares of Labcorp in a report on Friday, May 1st. Weiss Ratings raised shares of Labcorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 10th. Finally, Piper Sandler lifted their target price on shares of Labcorp from $270.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $308.00.

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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