Resources Management Corp CT ADV Reduces Stock Position in Labcorp Holdings Inc. $LH

Key Points

• Resources Management Corp CT ADV cut its Labcorp stake by 93.8% in the fourth quarter, reducing its holdings to 770 shares worth about $193,000.
• Several other institutional investors increased positions in Labcorp, and 95.94% of the stock is held by hedge funds and other institutions. Insiders own just 0.84% of shares.
• Labcorp reported stronger-than-expected quarterly results, with EPS of $4.25 versus the $4.09 estimate and revenue of $3.54 billion, while also paying a quarterly dividend of $0.72 per share.

Resources Management Corp CT ADV cut its holdings in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 93.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 770 shares of the medical research company's stock after selling 11,675 shares during the quarter. Resources Management Corp CT ADV's holdings in Labcorp were worth $193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LH. Brighton Jones LLC acquired a new position in shares of Labcorp in the 4th quarter worth approximately $991,000. Integrated Wealth Concepts LLC grew its position in shares of Labcorp by 7.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company's stock worth $565,000 after acquiring an additional 177 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Labcorp by 52.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company's stock worth $82,353,000 after acquiring an additional 121,304 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Labcorp in the 2nd quarter worth approximately $5,873,000. Finally, First Trust Advisors LP grew its position in shares of Labcorp by 83.2% in the 2nd quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company's stock worth $22,588,000 after acquiring an additional 39,087 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Kathryn W. Kyle sold 762 shares of the business's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the sale, the executive vice president owned 3,813 shares of the company's stock, valued at approximately $1,006,212.57. The trade was a 16.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the completion of the sale, the chief executive officer directly owned 107,234 shares in the company, valued at $27,291,053. This represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.84% of the stock is currently owned by insiders.

Labcorp Trading Down 0.6%

Shares of LH stock opened at $264.61 on Tuesday. 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 1 year low of $241.81 and a 1 year high of $293.72. The stock has a fifty day moving average of $262.46 and a two-hundred day moving average of $265.74. The firm has a market capitalization of $21.70 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the previous year, the firm posted $3.84 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, research analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, May 29th. Labcorp's payout ratio is 25.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LH shares. Piper Sandler lifted their target price on Labcorp from $270.00 to $300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Evercore reiterated an "outperform" rating and issued a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Wall Street Zen lowered Labcorp from a "buy" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. lifted their target price on Labcorp from $319.00 to $330.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Labcorp in a research report on Tuesday, February 17th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Labcorp currently has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.