Burgundy Asset Management Ltd. Decreases Stock Holdings in Labcorp Holdings Inc. $LH

Burgundy Asset Management Ltd. lowered its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,448 shares of the medical research company’s stock after selling 2,394 shares during the period. Burgundy Asset Management Ltd. owned 0.11% of Labcorp worth $25,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caldwell Trust Co purchased a new position in shares of Labcorp in the 2nd quarter valued at about $25,000. Financial Gravity Companies Inc. acquired a new position in Labcorp in the second quarter valued at approximately $26,000. Motco purchased a new position in Labcorp in the third quarter valued at approximately $32,000. Headlands Technologies LLC raised its holdings in 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 in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Labcorp by 48.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock worth $35,000 after buying an additional 40 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Price Performance

LH stock opened at $280.85 on Thursday. The firm has a 50 day moving average of $270.25 and a 200-day moving average of $270.26. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60. The company has a market cap of $23.14 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.93 and a beta of 1.01. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.12. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. As a group, equities analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be given 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 yield of 1.0%. Labcorp’s dividend payout ratio is 27.53%.

Insider Transactions at Labcorp

In other news, EVP Brian J. Caveney sold 1,500 shares of Labcorp stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total value of $429,465.00. Following the transaction, the executive vice president directly owned 30,107 shares of the company’s stock, valued at $8,619,935.17. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jonathan C. Meltzer sold 87 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $290.42, for a total value of $25,266.54. Following the completion of the sale, the executive vice president owned 2,782 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders have sold 7,408 shares of company stock valued at $2,110,398. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LH shares. Robert W. Baird increased their target price on shares of Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. JPMorgan Chase & Co. boosted their target price on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and a consensus price target of $304.82.

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.