Assetmark Inc. Boosts Stock Position in Labcorp Holdings Inc. $LH

Assetmark Inc. raised its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,373 shares of the medical research company’s stock after acquiring an additional 2,341 shares during the period. Assetmark Inc. owned approximately 0.09% of Labcorp worth $17,906,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC purchased a new stake in Labcorp during the 4th quarter valued at approximately $29,000. State of Alaska Department of Revenue raised its stake in shares of Labcorp by 24.5% during the 4th quarter. State of Alaska Department of Revenue now owns 11,798 shares of the medical research company’s stock worth $2,959,000 after buying an additional 2,325 shares in the last quarter. Choreo LLC raised its stake in shares of Labcorp by 12.3% during the 4th quarter. Choreo LLC now owns 6,098 shares of the medical research company’s stock worth $1,543,000 after buying an additional 669 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Labcorp by 12.0% during the 4th quarter. Apollon Wealth Management LLC now owns 1,357 shares of the medical research company’s stock worth $340,000 after buying an additional 145 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Labcorp during the 4th quarter worth approximately $597,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Stock Performance

NYSE LH opened at $267.26 on Thursday. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72. The company has a market capitalization of $21.97 billion, a P/E ratio of 25.55, a PEG ratio of 1.84 and a beta of 1.02. The business has a 50 day moving average price of $274.03 and a 200 day moving average price of $268.47. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.42 and a quick ratio of 1.23.

Labcorp (NYSE:LH) last released its quarterly earnings data on Tuesday, February 17th. The medical research company reported $4.07 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the business posted $3.45 EPS. Labcorp’s quarterly revenue was up 5.6% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio is presently 27.53%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LH shares. Robert W. Baird increased their target price on Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Wall Street Zen downgraded Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. JPMorgan Chase & Co. increased their target price on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, Evercore reissued an “outperform” rating and set a $300.00 target price on shares of Labcorp in a research note on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $307.20.

Insider Buying and Selling

In other Labcorp news, EVP Brian J. Caveney sold 1,500 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the completion of the transaction, the executive vice president owned 30,107 shares of the company’s stock, valued at approximately $8,619,935.17. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jonathan C. Meltzer sold 87 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total value of $25,266.54. Following the transaction, the executive vice president directly owned 2,782 shares of the company’s stock, valued at $807,948.44. The trade was a 3.03% decrease in their position. 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. Corporate 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.