Nykredit A S Makes New Investment in Labcorp Holdings Inc. $LH

Nykredit A S bought a new position in Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 28,128 shares of the medical research company’s stock, valued at approximately $7,876,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Labcorp in the 4th quarter valued at about $991,000. Integrated Wealth Concepts LLC grew its holdings in shares of Labcorp by 7.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after acquiring an additional 177 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Labcorp by 52.2% in the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after acquiring an additional 121,304 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Labcorp during the second quarter valued at approximately $5,873,000. Finally, First Trust Advisors LP lifted its holdings in Labcorp by 83.2% during the second quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock worth $22,588,000 after acquiring an additional 39,087 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Price Performance

Labcorp stock opened at $326.83 on Friday. The business’s 50 day simple moving average is $306.88 and its 200 day simple moving average is $280.62. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $341.80. The company has a market cap of $26.51 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.85 and a beta of 0.88. 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 (NYSE:LH) last released its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.78 by $0.21. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the business posted $4.35 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Sell-side analysts forecast that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LH shares. Morgan Stanley boosted their price objective on Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Robert W. Baird set a $352.00 price target on shares of Labcorp in a report on Friday, July 31st. Truist Financial increased their price target on shares of Labcorp from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Mizuho set a $355.00 price objective on shares of Labcorp in a report on Monday, August 10th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $330.00.

Insider Activity

In other Labcorp news, CEO Adam H. Schechter sold 4,669 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total value of $1,495,807.53. Following the completion of the transaction, the chief executive officer directly owned 102,565 shares of the company’s stock, valued at $32,858,749.05. This trade represents a 4.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kerrii B. Anderson sold 3,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $318.02, for a total value of $954,060.00. Following the transaction, the director owned 6,563 shares of the company’s stock, valued at approximately $2,087,165.26. The trade was 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. Over the last three months, insiders have sold 9,681 shares of company stock valued at $3,027,677. 0.84% of the stock is currently owned by corporate insiders.

Labcorp 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.