Ironvine Capital Partners LLC Sells 10,730 Shares of Labcorp Holdings Inc. $LH

Ironvine Capital Partners LLC decreased its holdings in Labcorp Holdings Inc. (NYSE:LH) by 16.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,819 shares of the medical research company’s stock after selling 10,730 shares during the period. Labcorp accounts for about 1.3% of Ironvine Capital Partners LLC’s holdings, making the stock its 24th biggest position. Ironvine Capital Partners LLC’s holdings in Labcorp were worth $15,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hilton Head Capital Partners LLC bought a new stake in Labcorp during the 4th quarter valued at $27,000. JPL Wealth Management LLC purchased a new position in shares of Labcorp in the third quarter valued at $28,000. DV Equities LLC bought a new stake in shares of Labcorp during the 4th quarter valued at $29,000. Allied Private Wealth LLC bought a new stake in shares of Labcorp during the 2nd quarter valued at $33,000. Finally, EFG International AG purchased a new stake in Labcorp during the 4th quarter worth about $33,000. Institutional investors own 95.94% of the company’s stock.

Insider Activity

In other Labcorp news, EVP Amy B. Summy sold 924 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total value of $283,427.76. Following the completion of the sale, the executive vice president owned 6,956 shares of the company’s stock, valued at $2,133,683.44. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 4,669 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the transaction, the chief executive officer owned 102,565 shares in the company, valued at $32,858,749.05. The trade was a 4.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 9,681 shares of company stock valued at $3,027,677. 0.84% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings raised Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Truist Financial upped their target price on shares of Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Morgan Stanley increased their target price on shares of Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $306.00 price target on shares of Labcorp in a research report on Friday, July 31st. Finally, Robert W. Baird set a $352.00 price target on shares of Labcorp in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $330.00.

Labcorp Price Performance

LH stock opened at $327.36 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. Labcorp Holdings Inc. has a one year low of $244.52 and a one year high of $341.80. The stock has a market cap of $26.55 billion, a PE ratio of 27.08, a P/E/G ratio of 1.92 and a beta of 0.88. The firm has a 50 day simple moving average of $303.16 and a two-hundred day simple moving average of $279.57.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the company posted $4.35 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, analysts predict that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a yield of 0.9%. Labcorp’s payout ratio is 23.82%.

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.