Assenagon Asset Management S.A. Sells 32,625 Shares of Labcorp Holdings Inc. $LH

Assenagon Asset Management S.A. trimmed its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 90.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,587 shares of the medical research company’s stock after selling 32,625 shares during the period. Assenagon Asset Management S.A.’s holdings in Labcorp were worth $900,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LH. HBK Sorce Advisory LLC boosted its position in Labcorp by 4.3% in the 3rd quarter. HBK Sorce Advisory LLC now owns 916 shares of the medical research company’s stock valued at $254,000 after buying an additional 38 shares during the last quarter. Pure Financial Advisors LLC raised its position in shares of Labcorp by 3.9% during the third quarter. Pure Financial Advisors LLC now owns 1,017 shares of the medical research company’s stock worth $292,000 after acquiring an additional 38 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Labcorp by 48.8% during the third quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 40 shares during the period. Burney Co. lifted its stake in shares of Labcorp by 0.5% during the third quarter. Burney Co. now owns 8,819 shares of the medical research company’s stock valued at $2,532,000 after acquiring an additional 42 shares during the period. Finally, Advisor OS LLC boosted its holdings in Labcorp by 5.4% in the third quarter. Advisor OS LLC now owns 821 shares of the medical research company’s stock valued at $236,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Trading Up 1.2%

LH opened at $266.71 on Wednesday. The stock has a market capitalization of $21.98 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.80 and a beta of 1.01. 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 Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72. The firm’s fifty day simple moving average is $273.96 and its 200 day simple moving average is $268.94.

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 the consensus estimate of $3.95 by $0.12. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.56 billion. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. As a group, research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

Insider Transactions at Labcorp

In other Labcorp news, EVP Jonathan C. Meltzer sold 87 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total transaction of $25,266.54. Following the completion of the transaction, the executive vice president owned 2,782 shares of the company’s stock, valued at $807,948.44. This represents a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian J. Caveney sold 1,500 shares of the firm’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 transaction of $429,465.00. Following the transaction, the executive vice president directly owned 30,107 shares of the company’s stock, valued at $8,619,935.17. This represents a 4.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 16,113 shares of company stock worth $4,547,450. 0.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

LH has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Piper Sandler raised their target price 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 shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Finally, Robert W. Baird lifted their target price on shares of Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Labcorp currently has an average rating of “Moderate Buy” and a consensus price target 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.