Dimensional Fund Advisors LP boosted its position in shares of Labcorp Holdings Inc. (NYSE:LH – Free Report) by 2.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,332,775 shares of the medical research company’s stock after acquiring an additional 28,584 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Labcorp were worth $355,569,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in LH. Brighton Jones LLC purchased a new stake in shares of Labcorp during the fourth quarter worth about $991,000. Integrated Wealth Concepts LLC grew its stake in shares of Labcorp by 7.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock worth $565,000 after purchasing an additional 177 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Labcorp by 52.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after purchasing an additional 121,304 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Labcorp during the 2nd quarter valued at about $5,873,000. Finally, First Trust Advisors LP raised its position in Labcorp by 83.2% during the 2nd quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock valued at $22,588,000 after purchasing an additional 39,087 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.
Analysts Set New Price Targets
LH has been the subject of several research analyst reports. Robert W. Baird increased their price objective on Labcorp from $335.00 to $338.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Bank of America boosted their target price on Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Evercore reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. Finally, Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.40.
Labcorp Price Performance
Shares of NYSE LH opened at $279.10 on Wednesday. Labcorp Holdings Inc. has a 1 year low of $244.52 and a 1 year high of $293.72. The stock has a market capitalization of $22.89 billion, a P/E ratio of 24.72, a P/E/G ratio of 1.87 and a beta of 0.89. The company’s 50-day moving average is $267.17 and its 200 day moving average is $268.41. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54.
Labcorp (NYSE:LH – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping the consensus estimate of $4.09 by $0.16. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. Labcorp’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, sell-side analysts expect that Labcorp Holdings Inc. will post 18 earnings per share for the current year.
Labcorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio is currently 25.51%.
Insider Activity
In other Labcorp news, EVP Bryan T. Vaughn sold 234 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the transaction, the executive vice president owned 6,746 shares in the company, valued at approximately $1,930,637.74. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, EVP Kathryn W. Kyle sold 762 shares of the 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 completion of the transaction, the executive vice president owned 3,813 shares of the company’s stock, valued at approximately $1,006,212.57. This trade represents a 16.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,991 shares of company stock worth $1,796,696 in the last quarter. 0.84% of the stock is owned by company insiders.
Labcorp Company 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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