Labcorp Holdings Inc. $LH Shares Bought by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd raised its stake in Labcorp Holdings Inc. (NYSE:LH) by 90.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,994 shares of the medical research company’s stock after purchasing an additional 4,260 shares during the period. Labcorp accounts for approximately 1.8% of Persistent Asset Partners Ltd’s holdings, making the stock its 11th biggest holding. Persistent Asset Partners Ltd’s holdings in Labcorp were worth $2,582,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Caldwell Trust Co acquired a new stake in shares of Labcorp in the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. acquired a new position in Labcorp in the second quarter worth approximately $26,000. Motco acquired a new stake in shares of Labcorp during the third quarter worth $32,000. Hantz Financial Services Inc. lifted 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 valued at $35,000 after buying an additional 40 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in Labcorp by 300.0% in 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 period. 95.94% of the stock is currently owned by institutional investors.

Labcorp Price Performance

LH stock opened at $282.26 on Friday. The stock has a 50-day moving average price of $265.13 and a two-hundred day moving average price of $269.08. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The stock has a market cap of $23.40 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.73 and a beta of 1.03. The company has a current ratio of 1.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.60.

Labcorp (NYSE:LH) last posted its quarterly earnings data 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. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.56 billion. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Equities analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Labcorp’s payout ratio is presently 28.29%.

Insider Buying and Selling

In other Labcorp news, EVP Jonathan C. Meltzer sold 87 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $290.42, for a total transaction of $25,266.54. Following the sale, the executive vice president owned 2,782 shares of the company’s stock, valued at approximately $807,948.44. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 5,273 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $284.38, for a total value of $1,499,535.74. Following the completion of the transaction, the chief executive officer directly owned 87,343 shares of the company’s stock, valued at $24,838,602.34. This represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LH. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research note on Tuesday. Robert W. Baird increased their price target on Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group lowered their target price on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings raised shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Labcorp presently has a consensus rating of “Moderate Buy” and an average price target of $302.75.

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.