Virtu Financial LLC Takes Position in Labcorp Holdings Inc. $LH

Key Points

• Virtu Financial LLC initiated a new position in Labcorp Holdings, buying 6,686 shares valued at about $1.68 million in the fourth quarter.
• Several other institutional investors also adjusted their stakes, and institutions now own 95.94% of Labcorp’s stock, indicating heavy professional ownership.
• Labcorp recently topped quarterly estimates with $4.25 EPS and $3.54 billion in revenue, while analysts maintain a Moderate Buy consensus with a target price around $308.

Virtu Financial LLC purchased a new stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,686 shares of the medical research company's stock, valued at approximately $1,677,000.

Other institutional investors have also added to or reduced their stakes in the company. REAP Financial Group LLC grew its position in shares of Labcorp by 20.4% in the 4th quarter. REAP Financial Group LLC now owns 218 shares of the medical research company's stock worth $55,000 after buying an additional 37 shares during the period. Hilltop Holdings Inc. increased its stake in shares of Labcorp by 2.6% during the fourth quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company's stock valued at $409,000 after purchasing an additional 41 shares in the last quarter. Advisor OS LLC lifted its holdings in shares of Labcorp by 5.4% during the third quarter. Advisor OS LLC now owns 821 shares of the medical research company's stock valued at $236,000 after purchasing an additional 42 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Labcorp by 3.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company's stock worth $282,000 after buying an additional 42 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Labcorp by 37.5% during the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company's stock valued at $44,000 after buying an additional 42 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

Insider Buying and Selling at Labcorp

In related news, EVP Kathryn W. Kyle sold 762 shares of Labcorp stock in a transaction on Monday, June 8th. The stock was sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president directly owned 3,813 shares in the company, valued at approximately $1,006,212.57. The trade was a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, CEO Adam H. Schechter sold 5,903 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $254.50, for a total value of $1,502,313.50. Following the sale, the chief executive officer directly owned 107,234 shares of the company's stock, 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler increased their target price on Labcorp from $270.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded shares of Labcorp from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Weiss Ratings restated a "buy (b-)" rating on shares of Labcorp in a research note on Friday, May 8th. Evercore reaffirmed an "outperform" rating and issued a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Finally, Robert W. Baird set a $334.00 target price on shares of Labcorp in a research note on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $308.00.

Labcorp Trading Up 0.1%

NYSE:LH opened at $255.96 on Friday. The company has a 50 day simple moving average of $261.33 and a two-hundred day simple moving average of $265.50. The company has a market cap of $20.99 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90. 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.

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. The business had revenue of $3.54 billion during the quarter, compared to analysts' expectations of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The firm's revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Research analysts forecast that Labcorp Holdings Inc. will post 18 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp's dividend payout ratio (DPR) is currently 25.51%.

About Labcorp

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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