Glenmede Investment Management LP Sells 4,365 Shares of Labcorp Holdings Inc. $LH

Glenmede Investment Management LP cut its holdings in Labcorp Holdings Inc. (NYSE:LH) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,547 shares of the medical research company’s stock after selling 4,365 shares during the quarter. Glenmede Investment Management LP owned approximately 0.33% of Labcorp worth $77,663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund grew its stake in shares of Labcorp by 12.0% during the third quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company’s stock worth $12,859,000 after buying an additional 4,800 shares during the last quarter. Independent Advisor Alliance lifted its stake in shares of Labcorp by 166.6% in the 3rd quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company’s stock valued at $3,477,000 after acquiring an additional 7,568 shares during the last quarter. Dakota Wealth Management lifted its stake in shares of Labcorp by 98.6% in the 3rd quarter. Dakota Wealth Management now owns 10,303 shares of the medical research company’s stock valued at $2,958,000 after acquiring an additional 5,116 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Labcorp by 224.1% during the 2nd quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock valued at $259,734,000 after acquiring an additional 684,153 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Labcorp by 3.1% during the 2nd quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock worth $9,012,000 after acquiring an additional 1,043 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Up 0.2%

Shares of NYSE:LH opened at $263.57 on Friday. The firm has a market cap of $21.72 billion, a P/E ratio of 25.20, a P/E/G ratio of 1.80 and a beta of 1.01. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72. The business has a fifty day simple moving average of $272.59 and a 200 day simple moving average of $269.98. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.12. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the company posted $3.45 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 27th 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 of this dividend was Friday, February 27th. Labcorp’s dividend payout ratio is currently 27.53%.

Analyst Ratings Changes

A number of equities analysts have issued reports on LH shares. Weiss Ratings raised Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Piper Sandler lifted their price target on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $304.82.

Insider Activity

In other news, EVP Brian J. Caveney sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total value of $429,465.00. Following the transaction, the executive vice president owned 30,107 shares in the company, valued at approximately $8,619,935.17. The trade was a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 8,705 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total transaction of $2,437,051.80. Following the completion of the sale, the chief executive officer directly owned 80,773 shares in the company, valued at approximately $22,613,209.08. This represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,113 shares of company stock worth $4,547,450 in the last 90 days. 0.84% of the stock is owned by company insiders.

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.