Cinctive Capital Management LP Makes New Investment in Labcorp Holdings Inc. $LH

Cinctive Capital Management LP bought a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,486 shares of the medical research company’s stock, valued at approximately $3,297,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Labcorp in the fourth quarter worth about $991,000. Integrated Wealth Concepts LLC increased its position in Labcorp by 7.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after purchasing an additional 177 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Labcorp by 52.2% in 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 in the last quarter. AE Wealth Management LLC raised its holdings in shares of Labcorp by 11.7% in the 2nd quarter. AE Wealth Management LLC now owns 1,236 shares of the medical research company’s stock valued at $325,000 after purchasing an additional 129 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its position in shares of Labcorp by 15.1% in the 2nd quarter. Prospera Financial Services Inc now owns 1,497 shares of the medical research company’s stock worth $393,000 after purchasing an additional 196 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. JPMorgan Chase & Co. increased their target price on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. 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 boosted 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $304.82.

Labcorp Stock Up 0.2%

Shares of Labcorp stock opened at $263.57 on Monday. 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 cap of $21.72 billion, a P/E ratio of 25.20, a PEG ratio of 1.80 and a beta of 1.01. The firm’s 50 day moving average price is $272.59 and its 200-day moving average price is $269.85. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $293.72.

Labcorp (NYSE:LH) last posted its 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 net margin of 6.28% and a return on equity of 16.16%. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the prior year, the company posted $3.45 earnings per share. Labcorp’s revenue for the quarter was up 5.6% compared to the same quarter last year. 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 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Der Vaart Sandra D. Van sold 548 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $284.91, for a total transaction of $156,130.68. Following the transaction, the executive vice president directly owned 2,579 shares in the company, 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 available through this link. Also, CEO Adam H. Schechter sold 8,705 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total value of $2,437,051.80. Following the transaction, the chief executive officer directly owned 80,773 shares in the company, valued at $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 sold 16,113 shares of company stock worth $4,547,450 over the last quarter. Company insiders own 0.84% of the company’s stock.

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.