Labcorp Holdings Inc. $LH Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC increased its stake in Labcorp Holdings Inc. (NYSE:LH) by 14.9% in the 4th quarter, HoldingsChannel reports. The fund owned 31,018 shares of the medical research company’s stock after acquiring an additional 4,031 shares during the period. Corient Private Wealth LLC’s holdings in Labcorp were worth $7,786,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LH. Brighton Jones LLC acquired a new stake in shares of Labcorp in the fourth quarter valued at $991,000. Integrated Wealth Concepts LLC boosted its stake in Labcorp by 7.9% during the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after buying an additional 177 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Labcorp by 52.2% during the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock worth $82,353,000 after acquiring an additional 121,304 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Labcorp in the second quarter worth about $5,873,000. Finally, First Trust Advisors LP raised its position in Labcorp by 83.2% in the second quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock worth $22,588,000 after acquiring an additional 39,087 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LH. Wall Street Zen lowered shares of Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Robert W. Baird set a $334.00 target price on shares of Labcorp in a research note on Friday, May 1st. Finally, Evercore restated an “outperform” rating and set a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $308.00.

Labcorp Trading Up 2.8%

NYSE LH opened at $265.80 on Thursday. The firm’s 50 day moving average price is $260.92 and its two-hundred day moving average price is $265.38. 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 twelve month low of $241.81 and a twelve month high of $293.72. The stock has a market cap of $21.80 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.81 and a beta of 0.90.

Labcorp (NYSE:LH) last released its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. The company had revenue of $3.54 billion during 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%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

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

Insider Activity

In other news, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares in the company, valued at $1,006,212.57. This represents a 16.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $254.50, for a total value of $1,502,313.50. Following the completion of the transaction, the chief executive officer owned 107,234 shares in the company, valued at $27,291,053. This represents a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.84% of the stock is currently owned by corporate 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.