Labcorp Holdings Inc. $LH Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. reduced its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 12.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 31,179 shares of the medical research company’s stock after selling 4,624 shares during the period. Labcorp makes up about 1.7% of Contravisory Investment Management Inc.’s holdings, making the stock its 27th largest holding. Contravisory Investment Management Inc.’s holdings in Labcorp were worth $8,319,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LH. Vanguard Group Inc. grew its position in shares of Labcorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock worth $2,471,326,000 after acquiring an additional 37,197 shares during the last quarter. Victory Capital Management Inc. lifted its position in Labcorp by 103.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Labcorp by 10.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company’s stock valued at $554,728,000 after purchasing an additional 207,962 shares during the last quarter. Geode Capital Management LLC boosted its stake in Labcorp by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after purchasing an additional 13,775 shares during the period. Finally, Wellington Management Group LLP grew its position in Labcorp by 15.9% in 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 last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Adam H. Schechter sold 5,903 shares of the business’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 completion of the sale, the chief executive officer owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. The trade was a 5.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the completion of 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. 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 owned by insiders.

Labcorp Trading Up 0.5%

Shares of NYSE:LH opened at $266.56 on Friday. The firm has a fifty day moving average of $260.87 and a two-hundred day moving average of $265.44. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 12-month low of $241.81 and a 12-month high of $293.72. The firm has a market capitalization of $21.86 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the business posted $3.84 earnings per share. Labcorp’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, equities analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.