1,885 Shares in Labcorp Holdings Inc. $LH Acquired by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. purchased a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,885 shares of the medical research company’s stock, valued at approximately $528,000.

A number of other hedge funds have also modified their holdings of the company. Hilton Head Capital Partners LLC bought a new stake in shares of Labcorp during the 4th quarter valued at $27,000. JPL Wealth Management LLC bought a new stake in Labcorp during the third quarter valued at about $28,000. DV Equities LLC purchased a new position in shares of Labcorp in the fourth quarter valued at about $29,000. Allied Private Wealth LLC bought a new position in shares of Labcorp in the second quarter worth about $33,000. Finally, EFG International AG purchased a new stake in shares of Labcorp during the fourth quarter worth about $33,000. 95.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Bryan T. Vaughn sold 234 shares of Labcorp stock in a transaction dated 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 transaction, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, Director Kerrii B. Anderson sold 3,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $318.02, for a total transaction of $954,060.00. Following the completion of the sale, the director directly owned 6,563 shares in the company, valued at $2,087,165.26. This trade represents a 31.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 9,681 shares of company stock valued at $3,027,677. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LH has been the subject of several recent analyst reports. Barclays upped their price target on Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Mizuho set a $355.00 price target on shares of Labcorp in a research note on Monday, August 10th. Piper Sandler raised their price objective on Labcorp from $300.00 to $309.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $330.00.

Labcorp Trading Down 0.5%

LH opened at $335.96 on Thursday. The stock has a 50-day moving average of $297.00 and a 200 day moving average of $278.11. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $339.76. The firm has a market cap of $27.25 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.95 and a beta of 0.87.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.21. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, research analysts forecast that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 0.9%. Labcorp’s payout ratio is 23.82%.

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.