Labcorp Holdings Inc. $LH Stake Boosted by Andra AP fonden

Andra AP fonden boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 58.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,662 shares of the medical research company’s stock after buying an additional 20,182 shares during the period. Andra AP fonden owned about 0.07% of Labcorp worth $14,584,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Labcorp by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock worth $2,471,326,000 after purchasing an additional 37,197 shares during the period. Victory Capital Management Inc. boosted its position in shares of Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after buying an additional 2,719,475 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Labcorp by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock worth $607,241,000 after buying an additional 22,170 shares during the period. Geode Capital Management LLC grew its holdings in shares of Labcorp by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after buying an additional 13,775 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in 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 buying an additional 289,029 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on LH. Robert W. Baird raised their price objective on Labcorp from $335.00 to $338.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Evercore reissued an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Bank of America upped their price objective on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.40.

Insider Activity at Labcorp

In other news, EVP Kathryn W. Kyle sold 762 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares in the company, valued at approximately $1,006,212.57. This trade represents a 16.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of Labcorp stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $66,968.46. Following the completion of the sale, the executive vice president directly owned 6,746 shares of the company’s stock, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Price Performance

LH opened at $279.10 on Wednesday. The stock has a fifty day moving average price of $267.17 and a 200 day moving average price of $268.41. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 1 year low of $244.52 and a 1 year high of $293.72. The stock has a market cap of $22.89 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 1.87 and a beta of 0.89.

Labcorp (NYSE:LH) last issued its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the firm posted $3.84 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Analysts forecast that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s dividend payout ratio (DPR) is presently 25.51%.

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.