Lazard Asset Management LLC Trims Stock Position in Labcorp Holdings Inc. $LH

Lazard Asset Management LLC lessened its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 20.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 393,132 shares of the medical research company’s stock after selling 98,742 shares during the period. Lazard Asset Management LLC’s holdings in Labcorp were worth $104,892,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. REAP Financial Group LLC grew its stake in Labcorp by 20.4% in the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock worth $55,000 after purchasing an additional 37 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Labcorp by 1.7% in the 1st quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company’s stock worth $645,000 after buying an additional 40 shares during the period. Hilltop Holdings Inc. grew its position in shares of Labcorp by 2.6% during the 4th quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock worth $409,000 after buying an additional 41 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Labcorp by 3.9% during the fourth quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after buying an additional 42 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of Labcorp by 37.5% in the third quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity at Labcorp

In other Labcorp news, EVP Bryan T. Vaughn sold 234 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the sale, the executive vice president directly owned 6,746 shares in the company, valued at $1,930,637.74. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 on Monday, May 11th. The stock was sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the transaction, the chief executive officer directly owned 107,234 shares in the company, valued at $27,291,053. This represents a 5.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,991 shares of company stock valued at $1,796,696 over the last 90 days. Insiders own 0.84% of the company’s stock.

Labcorp Price Performance

LH opened at $301.03 on Tuesday. The firm has a market capitalization of $24.68 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.97 and a beta of 0.89. 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 business’s 50-day moving average is $270.30 and its two-hundred day moving average is $269.49. Labcorp Holdings Inc. has a 1 year low of $244.52 and a 1 year high of $301.79.

Labcorp (NYSE:LH) last released its quarterly earnings results 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. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the firm posted $3.84 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Research analysts anticipate that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed 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 dividend yield of 1.0%. The ex-dividend date is Friday, August 28th. Labcorp’s payout ratio is 25.51%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LH. Evercore reiterated an “outperform” rating and set a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Robert W. Baird boosted their price target on shares of Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Bank of America upped 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, July 13th. Finally, Weiss Ratings upgraded shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Labcorp presently has a consensus rating of “Moderate Buy” and an average target price of $315.33.

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.