Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,816 shares of the medical research company's stock after selling 4,744 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Labcorp worth $47,443,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of LH. Vanguard Group Inc. grew its stake in shares of Labcorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company's stock worth $2,471,326,000 after acquiring an additional 37,197 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Labcorp by 103.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company's stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Labcorp by 10.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company's stock worth $554,728,000 after purchasing an additional 207,962 shares during the last quarter. Geode Capital Management LLC grew its position in Labcorp by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company's stock worth $534,023,000 after purchasing an additional 13,775 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Labcorp by 15.9% in 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 in the last quarter. 95.94% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on LH. Evercore reissued an "outperform" rating and set a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Labcorp in a report on Friday, May 8th. Robert W. Baird set a $334.00 price target on Labcorp in a research report on Friday, May 1st. Finally, Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research report on Sunday. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $313.33.
Read Our Latest Stock Analysis on Labcorp
Labcorp Stock Performance
Shares of LH stock opened at $276.81 on Monday. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 1.94 and a beta of 0.89. 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 52 week low of $241.81 and a 52 week high of $293.72. The firm's 50-day simple moving average is $264.07 and its two-hundred day simple moving average is $267.16.
Labcorp (NYSE:LH - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the firm earned $3.84 EPS. The company's 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. As a group, equities analysts forecast that Labcorp Holdings Inc. will post 18 earnings per share for the current year.
Labcorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp's dividend payout ratio is 25.51%.
Insiders Place Their Bets
In other news, CEO Adam H. Schechter sold 5,903 shares of the stock in a transaction 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 completion of 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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 92 shares of Labcorp stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $26,329.48. Following the completion of the sale, the executive vice president directly owned 3,904 shares of the company's stock, valued at approximately $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. Insiders sold 6,991 shares of company stock valued at $1,796,696 over the last ninety days. 0.84% of the stock is currently owned by insiders.
About Labcorp
(
Free Report)
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.
See Also
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