44 Wealth Management LLC Reduces Position in Labcorp Holdings Inc. $LH

44 Wealth Management LLC decreased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 63.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,783 shares of the medical research company’s stock after selling 3,041 shares during the quarter. 44 Wealth Management LLC’s holdings in Labcorp were worth $512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LH. Vanguard Group Inc. increased its stake in Labcorp by 1.6% in the second quarter. Vanguard Group Inc. now owns 9,879,225 shares of the medical research company’s stock worth $2,593,395,000 after purchasing an additional 156,717 shares during the period. State Street Corp increased its stake in Labcorp by 0.9% in the 2nd quarter. State Street Corp now owns 3,863,039 shares of the medical research company’s stock worth $1,014,086,000 after buying an additional 36,003 shares during the period. Victory Capital Management Inc. increased its stake in Labcorp by 20.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock worth $756,878,000 after buying an additional 440,224 shares during the period. Wellington Management Group LLP lifted its holdings in Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after buying an additional 289,029 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Labcorp by 3.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,303,307 shares of the medical research company’s stock valued at $342,131,000 after buying an additional 43,661 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Labcorp Stock Performance

Shares of NYSE:LH opened at $263.57 on Monday. The firm has a 50 day moving average of $272.59 and a 200 day moving average of $269.85. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $21.72 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72.

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

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 27th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is presently 27.53%.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 548 shares of Labcorp stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $284.91, for a total value of $156,130.68. Following the transaction, the executive vice president owned 2,579 shares of the company’s stock, valued at $734,782.89. The trade was a 17.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan C. Meltzer sold 87 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total transaction of $25,266.54. Following the transaction, the executive vice president owned 2,782 shares of the company’s stock, valued at approximately $807,948.44. This trade represents a 3.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,113 shares of company stock worth $4,547,450 over the last ninety days. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on LH. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. increased their price objective on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Piper Sandler raised their price objective on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Finally, Robert W. Baird increased their price target on Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $304.82.

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.