Bessemer Group Inc. Buys 185,847 Shares of Labcorp Holdings Inc. $LH

Bessemer Group Inc. increased its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 47.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 579,036 shares of the medical research company’s stock after purchasing an additional 185,847 shares during the period. Bessemer Group Inc. owned approximately 0.70% of Labcorp worth $154,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Labcorp during the 4th quarter valued at $26,000. Hilton Head Capital Partners LLC purchased a new position in shares of Labcorp in the 4th quarter worth $27,000. JPL Wealth Management LLC bought a new stake in shares of Labcorp in the third quarter worth $28,000. Eagle Bay Advisors LLC bought a new stake in shares of Labcorp in the fourth quarter worth $29,000. Finally, DV Equities LLC purchased a new stake in Labcorp during the fourth quarter valued at $29,000. Institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Bank of America upped their price target on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Evercore reiterated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Finally, Robert W. Baird lifted their price target on shares of Labcorp from $335.00 to $338.00 and gave the stock an “outperform” rating in a research note on Monday. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Labcorp has an average rating of “Moderate Buy” and a consensus target price of $314.40.

Insider Activity at Labcorp

In other Labcorp news, EVP Bryan T. Vaughn sold 234 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $66,968.46. Following the completion of the sale, the executive vice president directly owned 6,746 shares of the company’s stock, valued at $1,930,637.74. This trade represents a 3.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the sale, the chief executive officer owned 107,234 shares in the company, valued at approximately $27,291,053. The trade was a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is owned by company insiders.

Labcorp Stock Performance

LH opened at $282.06 on Friday. The company has a 50 day simple moving average of $265.63 and a two-hundred day simple moving average of $267.80. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. The firm has a market cap of $23.13 billion, a P/E ratio of 24.98, a PEG ratio of 1.81 and a beta of 0.89. Labcorp Holdings Inc. has a 1-year low of $241.81 and a 1-year high of $293.72.

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

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s dividend payout ratio (DPR) is 25.51%.

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.