Allspring Global Investments Holdings LLC Boosts Stake in Labcorp Holdings Inc. $LH

Allspring Global Investments Holdings LLC increased its holdings in Labcorp Holdings Inc. (NYSE:LH) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,204,276 shares of the medical research company’s stock after purchasing an additional 207,962 shares during the period. Labcorp makes up 0.9% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 9th biggest position. Allspring Global Investments Holdings LLC owned about 2.66% of Labcorp worth $554,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caldwell Trust Co acquired a new stake in shares of Labcorp during the 2nd quarter worth about $25,000. JPL Wealth Management LLC acquired a new position in Labcorp in the third quarter valued at about $28,000. Motco bought a new stake in Labcorp during the third quarter worth about $32,000. Hantz Financial Services Inc. grew its stake in Labcorp by 48.8% during the third quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock worth $35,000 after buying an additional 40 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Labcorp by 300.0% during the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock worth $34,000 after buying an additional 96 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of LH opened at $263.71 on Tuesday. The stock has a market capitalization of $21.73 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.80 and a beta of 1.01. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72. The firm has a fifty day simple moving average of $274.05 and a 200 day simple moving average of $269.02. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60.

Labcorp (NYSE:LH) last issued its quarterly 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 firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.56 billion. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Research analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders 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 annualized dividend and a dividend yield of 1.1%. Labcorp’s payout ratio is 27.53%.

Analyst Ratings Changes

Several brokerages have commented on LH. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Robert W. Baird raised their price objective on Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Piper Sandler lifted their target price on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Morgan Stanley restated an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Finally, Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $304.82.

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 8,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $279.96, for a total transaction of $2,437,051.80. Following the sale, the chief executive officer owned 80,773 shares in the company, valued at $22,613,209.08. This represents a 9.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $284.91, for a total transaction of $156,130.68. Following the completion of the transaction, the executive vice president directly owned 2,579 shares of the company’s stock, valued at $734,782.89. This represents a 17.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,113 shares of company stock worth $4,547,450 over the last 90 days. 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.