Fifth Third Bancorp Has $15.47 Million Stock Position in Labcorp Holdings Inc. $LH

Fifth Third Bancorp boosted its position in Labcorp Holdings Inc. (NYSE:LH) by 106.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 57,981 shares of the medical research company’s stock after acquiring an additional 29,899 shares during the quarter. Fifth Third Bancorp’s holdings in Labcorp were worth $15,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of LH. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Labcorp during the 4th quarter worth $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Labcorp in the fourth quarter valued at about $27,000. JPL Wealth Management LLC acquired a new stake in shares of Labcorp in the third quarter valued at about $28,000. Eagle Bay Advisors LLC bought a new position in shares of Labcorp in the fourth quarter worth about $29,000. Finally, DV Equities LLC bought a new position in shares of Labcorp in the fourth quarter worth about $29,000. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of NYSE LH opened at $276.06 on Wednesday. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.94 and a beta of 0.89. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72. The business has a fifty day simple moving average of $264.84 and a 200 day simple moving average of $267.48. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

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. 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 business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Sell-side analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

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 $0.72 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s payout ratio is presently 25.51%.

Insider Activity at Labcorp

In other news, EVP Bryan T. Vaughn sold 234 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the sale, the executive vice president directly owned 6,746 shares in the company, valued at approximately $1,930,637.74. This represents a 3.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 the 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 transaction, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. The trade was a 5.22% 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. Insiders have sold a total of 6,991 shares of company stock valued at $1,796,696 over the last quarter. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LH. Robert W. Baird increased their target price on Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a research note on Monday. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Sunday. Evercore reiterated an “outperform” rating and set a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Bank of America raised their price target on shares of Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and an average target price of $314.40.

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.