2Xideas AG Sells 7,051 Shares of Labcorp Holdings Inc. $LH

2Xideas AG decreased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 25.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,870 shares of the medical research company’s stock after selling 7,051 shares during the period. Labcorp accounts for about 1.3% of 2Xideas AG’s portfolio, making the stock its 25th biggest position. 2Xideas AG’s holdings in Labcorp were worth $5,991,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Labcorp by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 9,879,225 shares of the medical research company’s stock valued at $2,593,395,000 after acquiring an additional 156,717 shares in the last quarter. State Street Corp grew its holdings in Labcorp by 0.9% in the second quarter. State Street Corp now owns 3,863,039 shares of the medical research company’s stock worth $1,014,086,000 after purchasing an additional 36,003 shares during the period. Victory Capital Management Inc. increased its stake in Labcorp by 20.0% in the third quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock valued at $756,878,000 after purchasing an additional 440,224 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Labcorp by 2.2% during the second quarter. Geode Capital Management LLC now owns 2,113,460 shares of the medical research company’s stock valued at $552,445,000 after purchasing an additional 44,630 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Labcorp by 15.9% during the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after purchasing an additional 289,029 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Stock Up 0.2%

LH opened at $263.57 on Friday. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The company’s 50-day moving average price is $272.59 and its two-hundred day moving average price is $269.98. The stock has a market cap of $21.72 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 1.80 and a beta of 1.01. 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 posted its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the previous year, the firm posted $3.45 EPS. Labcorp’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. As a group, equities analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

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

Insider Transactions at Labcorp

In other Labcorp news, 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 transaction of $2,437,051.80. Following the sale, the chief executive officer directly owned 80,773 shares of the company’s stock, valued at $22,613,209.08. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian J. Caveney sold 1,500 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the transaction, the executive vice president owned 30,107 shares of the company’s stock, valued at $8,619,935.17. This represents a 4.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,113 shares of company stock valued at $4,547,450. 0.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on LH shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Piper Sandler raised their price objective on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. upped their target price on Labcorp from $319.00 to $330.00 and gave the stock 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 lifted their price target on shares of Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and an average price target of $304.82.

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.