SG Americas Securities LLC Reduces Holdings in Labcorp Holdings Inc. $LH

Key Points

• SG Americas Securities LLC cut its Labcorp stake by 17.2% in the first quarter, selling 11,730 shares and ending with 56,352 shares valued at about $15.0 million.
• Labcorp reported better-than-expected first-quarter earnings of $4.25 per share on revenue of $3.54 billion, topping analyst estimates and marking 5.8% year-over-year revenue growth.
• The company also paid a quarterly dividend of $0.72 per share and has a consensus Wall Street rating of Moderate Buy, with an average price target of $308.00.

SG Americas Securities LLC reduced its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 17.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,352 shares of the medical research company's stock after selling 11,730 shares during the period. SG Americas Securities LLC owned about 0.07% of Labcorp worth $15,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LH. JPL Wealth Management LLC bought a new stake in Labcorp during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Labcorp in the 4th quarter worth $26,000. Hilton Head Capital Partners LLC purchased a new position in shares of Labcorp in the fourth quarter valued at about $27,000. Eagle Bay Advisors LLC purchased a new position in shares of Labcorp in the fourth quarter valued at about $29,000. Finally, DV Equities LLC purchased a new position in shares of Labcorp in the fourth quarter valued at about $29,000. Institutional investors own 95.94% of the company's stock.

Labcorp Stock Up 0.5%

Shares of NYSE LH opened at $266.56 on Friday. 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 $241.81 and a 12 month high of $293.72. The firm has a market capitalization of $21.86 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. The firm has a fifty day simple moving average of $260.87 and a two-hundred day simple moving average of $265.44.

Labcorp (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share 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 firm had revenue of $3.54 billion for 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 company'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 analysts expect that Labcorp Holdings Inc. will post 18 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp's payout ratio is presently 25.51%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LH shares. Evercore reiterated an "outperform" rating and set a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Wall Street Zen lowered Labcorp from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Robert W. Baird set a $334.00 price objective on Labcorp in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Labcorp in a research report on Friday, May 8th. 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $308.00.

Insider Activity at Labcorp

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

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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