Labcorp Holdings Inc. $LH Stock Position Lifted by 8 Knots Management LLC

8 Knots Management LLC raised its stake in Labcorp Holdings Inc. (NYSE:LH) by 96.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 204,859 shares of the medical research company’s stock after buying an additional 100,675 shares during the quarter. Labcorp accounts for about 6.7% of 8 Knots Management LLC’s holdings, making the stock its 4th biggest position. 8 Knots Management LLC owned approximately 0.25% of Labcorp worth $58,807,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LH. Caldwell Trust Co bought a new position in Labcorp during the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. bought a new stake in Labcorp in the second quarter worth approximately $26,000. Motco bought a new stake in Labcorp in the third quarter worth approximately $32,000. Hantz Financial Services Inc. increased its stake in shares of Labcorp by 48.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock worth $35,000 after purchasing an additional 40 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in shares of Labcorp by 300.0% during the 2nd quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of LH opened at $263.57 on Friday. The company has a market capitalization of $21.72 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. 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 Holdings Inc. has a one year low of $209.38 and a one year high of $293.72. The company’s fifty day moving average price is $272.59 and its 200 day moving average price is $269.92.

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

Labcorp Dividend Announcement

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

Insiders Place Their Bets

In other Labcorp news, EVP Jonathan C. Meltzer sold 87 shares of Labcorp stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brian J. Caveney sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was 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 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,113 shares of company stock worth $4,547,450. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted 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. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. boosted their price target 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 research note on Tuesday, February 10th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.