Truist Financial Corp Purchases 2,706 Shares of Labcorp Holdings Inc. $LH

Truist Financial Corp raised its position in Labcorp Holdings Inc. (NYSE:LH) by 12.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 25,105 shares of the medical research company’s stock after buying an additional 2,706 shares during the period. Truist Financial Corp’s holdings in Labcorp were worth $6,298,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LH. Thurston Springer Miller Herd & Titak Inc. bought a new position in Labcorp in the fourth quarter valued at about $26,000. JPL Wealth Management LLC bought a new position in shares of Labcorp during the third quarter worth about $28,000. Eagle Bay Advisors LLC bought a new position in shares of Labcorp during the fourth quarter worth about $29,000. Beacon Financial Strategies CORP bought a new position in shares of Labcorp during the fourth quarter worth about $33,000. Finally, Headlands Technologies LLC raised its position 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 acquiring an additional 96 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Brian J. Caveney sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the completion of the sale, the executive vice president owned 30,107 shares of the company’s stock, valued at $8,619,935.17. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 8,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $279.96, for a total value of $2,437,051.80. Following the sale, the chief executive officer directly owned 80,773 shares of the company’s stock, valued at $22,613,209.08. This represents a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,113 shares of company stock worth $4,547,450. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LH. Piper Sandler raised their price objective on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. raised their price objective on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Evercore restated an “outperform” rating and set a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. Finally, Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and an average target price of $308.00.

Labcorp Price Performance

Shares of LH opened at $253.99 on Friday. The business has a 50-day moving average of $269.03 and a 200-day moving average of $266.77. Labcorp Holdings Inc. has a 1 year low of $239.67 and a 1 year high of $293.72. The company has a market capitalization of $20.83 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54.

Labcorp (NYSE:LH) last released its earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping the consensus estimate of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the firm posted $3.84 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities research analysts anticipate that Labcorp Holdings Inc. will post 17.99 earnings per share for the current year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

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.