Everett Harris & Co. CA Raises Stake in Labcorp Holdings Inc. $LH

Everett Harris & Co. CA lifted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 10.9% in the fourth quarter, Holdings Channel reports. The firm owned 38,003 shares of the medical research company’s stock after purchasing an additional 3,722 shares during the period. Everett Harris & Co. CA’s holdings in Labcorp were worth $9,534,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LH. Norges Bank purchased a new stake in shares of Labcorp during the 4th quarter worth about $248,006,000. Victory Capital Management Inc. grew its holdings in shares of Labcorp by 20.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock worth $756,878,000 after purchasing an additional 440,224 shares during the period. Wellington Management Group LLP grew its holdings in shares of Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after purchasing an additional 289,029 shares during the period. Marshall Wace LLP grew its holdings in shares of Labcorp by 79.1% during the 3rd quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock worth $178,996,000 after purchasing an additional 275,454 shares during the period. Finally, Mondrian Investment Partners LTD purchased a new stake in shares of Labcorp during the 3rd quarter worth about $75,208,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Evercore reiterated an “outperform” rating and set a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Robert W. Baird set a $334.00 price target on Labcorp in a research report on Friday, May 1st. Piper Sandler boosted their price target on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $308.00.

Labcorp Stock Performance

Labcorp stock opened at $261.67 on Tuesday. The stock’s 50 day moving average price is $262.61 and its 200 day moving average price is $265.66. The firm has a market capitalization of $21.46 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72.

Labcorp (NYSE:LH) last released its quarterly 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. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.Labcorp’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, sell-side analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 29th. Labcorp’s dividend payout ratio is presently 25.51%.

Insider Activity

In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the transaction, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at $27,291,053. This represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.84% of the stock is currently owned by 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.