Mondrian Investment Partners LTD Invests $75.21 Million in Labcorp Holdings Inc. $LH

Mondrian Investment Partners LTD acquired a new stake in Labcorp Holdings Inc. (NYSE:LH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 261,994 shares of the medical research company’s stock, valued at approximately $75,208,000. Mondrian Investment Partners LTD owned about 0.32% of Labcorp as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Caldwell Trust Co bought a new stake in shares of Labcorp in the 2nd quarter valued at approximately $25,000. Financial Gravity Companies Inc. acquired a new position in Labcorp in the second quarter worth $26,000. Motco bought a new stake in Labcorp during the third quarter valued at $32,000. Hantz Financial Services Inc. increased 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 purchasing an additional 40 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Labcorp by 300.0% during the second 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. Institutional investors own 95.94% of the company’s stock.

Labcorp Price Performance

Shares of Labcorp stock opened at $282.64 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $264.06 and its two-hundred day moving average price is $268.81. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The stock has a market cap of $23.43 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.03.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is currently 28.29%.

Wall Street Analyst Weigh In

LH has been the subject of a number of recent research reports. UBS Group lowered their price objective on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Robert W. Baird set a $313.00 target price on Labcorp in a research note on Wednesday, January 14th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. boosted their price objective on Labcorp from $317.00 to $319.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Finally, Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.75.

Insiders Place Their Bets

In other Labcorp news, CEO Adam H. Schechter sold 5,273 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $284.38, for a total transaction of $1,499,535.74. Following the sale, the chief executive officer owned 87,343 shares in the company, valued at approximately $24,838,602.34. The trade was a 5.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan C. Meltzer sold 87 shares of the company’s stock in a transaction dated 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 directly owned 2,782 shares of the company’s stock, valued at $807,948.44. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.84% of the company’s stock.

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.