MBL Wealth LLC Sells 4,016 Shares of Labcorp Holdings Inc. $LH

MBL Wealth LLC trimmed its position in Labcorp Holdings Inc. (NYSE:LH) by 17.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,341 shares of the medical research company’s stock after selling 4,016 shares during the period. MBL Wealth LLC’s holdings in Labcorp were worth $5,959,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LH. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Labcorp during the second quarter valued at $168,222,000. Bank of New York Mellon Corp bought a new stake in shares of Labcorp during the 2nd quarter valued at $142,125,000. Madison Asset Management LLC bought a new stake in shares of Labcorp during the 2nd quarter valued at $133,460,000. Bessemer Group Inc. boosted its holdings in shares of Labcorp by 47.3% during the 1st quarter. Bessemer Group Inc. now owns 579,036 shares of the medical research company’s stock valued at $154,493,000 after buying an additional 185,847 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Labcorp by 19.4% in the 1st quarter. Royal Bank of Canada now owns 820,442 shares of the medical research company’s stock worth $218,901,000 after buying an additional 133,549 shares during the period. Institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $306.00 target price on shares of Labcorp in a research report on Friday, July 31st. Piper Sandler lifted their price target on shares of Labcorp from $300.00 to $309.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Morgan Stanley lifted their price target on shares of Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Truist Financial boosted their price objective on shares of Labcorp from $350.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, September 21st. Finally, Robert W. Baird set a $352.00 price objective on shares of Labcorp in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $337.73.

Labcorp Stock Performance

Labcorp stock opened at $330.48 on Friday. Labcorp Holdings Inc. has a twelve month low of $244.52 and a twelve month high of $341.80. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $26.80 billion, a P/E ratio of 18.51, a PEG ratio of 1.85 and a beta of 0.87. The stock’s 50 day moving average is $320.72 and its 200 day moving average is $290.72.

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 analysts’ consensus estimates of $4.78 by $0.21. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, equities research analysts predict that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 24th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, November 24th. Labcorp’s dividend payout ratio is currently 23.82%.

Insider Transactions at Labcorp

In other news, EVP Amy B. Summy sold 924 shares of Labcorp stock in a transaction dated 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 transaction, the executive vice president owned 6,956 shares of the company’s stock, valued at $2,133,683.44. The trade was a 11.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 3,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $318.02, for a total transaction of $954,060.00. Following the completion of the transaction, the director owned 6,563 shares in the company, valued at approximately $2,087,165.26. The trade was a 31.37% 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. Over the last three months, insiders have sold 8,593 shares of company stock valued at $2,733,295. Insiders own 0.84% of the company’s stock.

Labcorp Profile

Labcorp (NYSE: LH), formally Laboratory Corporation of America Holdings, is a global life sciences and healthcare company headquartered in Burlington, North Carolina. The company provides laboratory testing and diagnostic services to physicians, hospitals, health systems, employers, insurers and consumers.

Through its diagnostics operations, Labcorp offers routine and specialty testing, oncology diagnostics, women’s health testing, genetic testing, pathology services and other laboratory services.