1,773 Labcorp Holdings Inc. $LH Shares Acquired by Cardinal Capital Management

Cardinal Capital Management raised its stake in Labcorp Holdings Inc. (NYSE:LH) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,257 shares of the medical research company’s stock after acquiring an additional 1,773 shares during the period. Labcorp makes up 1.5% of Cardinal Capital Management’s portfolio, making the stock its 18th biggest position. Cardinal Capital Management’s holdings in Labcorp were worth $12,404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LH. Axxcess Wealth Management LLC purchased a new position in shares of Labcorp in the 3rd quarter worth about $275,000. Crossmark Global Holdings Inc. grew its position in Labcorp by 3.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,064 shares of the medical research company’s stock valued at $1,252,000 after purchasing an additional 128 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Labcorp by 73.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,912 shares of the medical research company’s stock valued at $589,000 after purchasing an additional 811 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Labcorp by 355.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 21,921 shares of the medical research company’s stock valued at $6,754,000 after purchasing an additional 17,105 shares during the last quarter. Finally, Willis Investment Counsel increased its stake in Labcorp by 6.3% during the 3rd quarter. Willis Investment Counsel now owns 80,041 shares of the medical research company’s stock valued at $24,661,000 after purchasing an additional 4,722 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Adam H. Schechter sold 4,669 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total transaction 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. The trade was a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy B. Summy sold 924 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total transaction of $283,427.76. Following the transaction, the executive vice president directly owned 6,956 shares of the company’s stock, valued at $2,133,683.44. The trade was a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,593 shares of company stock valued at $2,733,295 in the last 90 days. 0.84% of the stock is currently owned by insiders.

Labcorp Stock Up 0.1%

LH stock opened at $323.39 on Thursday. Labcorp Holdings Inc. has a 1-year low of $244.52 and a 1-year high of $341.80. The business has a fifty day moving average price of $320.56 and a 200-day moving average price of $290.33. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. The stock has a market capitalization of $26.23 billion, a P/E ratio of 26.75, a P/E/G ratio of 1.84 and a beta of 0.87.

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

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 24th will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, November 24th. This represents a $2.88 annualized dividend and a yield of 0.9%. Labcorp’s dividend payout ratio is currently 23.82%.

Wall Street Analysts Forecast Growth

LH has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Barclays increased their price target on shares of Labcorp from $320.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, September 11th. UBS Group raised their price target on shares of Labcorp from $361.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, September 11th. Finally, Bank of America raised their price target on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Labcorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.73.

Labcorp Profile

Labcorp (NYSE: LH), formally Laboratory Corporation of America Holdings, is a global life sciences and healthcare company headquartered in Burlington, North Carolina. The company provides laboratory testing and diagnostic services to physicians, hospitals, health systems, employers, insurers and consumers.

Through its diagnostics operations, Labcorp offers routine and specialty testing, oncology diagnostics, women’s health testing, genetic testing, pathology services and other laboratory services.