Labcorp Holdings Inc. $LH Shares Purchased by Saudi Central Bank

Saudi Central Bank raised its position in Labcorp Holdings Inc. (NYSE:LH) by 88.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,768 shares of the medical research company’s stock after buying an additional 2,708 shares during the period. Saudi Central Bank’s holdings in Labcorp were worth $1,615,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LH. Hilton Head Capital Partners LLC purchased a new stake in shares of Labcorp during the fourth quarter worth approximately $27,000. JPL Wealth Management LLC acquired a new stake in Labcorp during the 3rd quarter worth $28,000. DV Equities LLC acquired a new stake in Labcorp during the 4th quarter worth $29,000. Allied Private Wealth LLC purchased a new stake in shares of Labcorp during the second quarter worth $33,000. Finally, EFG International AG acquired a new stake in shares of Labcorp in the fourth quarter valued at about $33,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Labcorp Price Performance

NYSE:LH opened at $324.95 on Wednesday. Labcorp Holdings Inc. has a 52 week low of $244.52 and a 52 week high of $341.80. The stock’s fifty day moving average is $308.74 and its two-hundred day moving average is $281.29. The company has a market capitalization of $26.35 billion, a P/E ratio of 26.88, a P/E/G ratio of 1.85 and a beta of 0.88. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) 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 analyst estimates of $3.71 billion. During the same period in the previous year, the firm earned $4.35 EPS. Labcorp’s revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Equities analysts expect that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Dividend Announcement

The company 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. 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 dividend payout ratio is presently 23.82%.

Insider Activity at Labcorp

In other Labcorp news, EVP Amy Summy sold 924 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total transaction of $283,427.76. Following the sale, the executive vice president directly owned 6,956 shares in the company, valued at $2,133,683.44. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathryn Kyle sold 92 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 transaction of $26,329.48. Following the completion of the transaction, the executive vice president directly owned 3,904 shares of the company’s stock, valued at approximately $1,117,285.76. The trade was a 2.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 8,919 shares of company stock worth $2,826,593 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on LH shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $306.00 price objective on shares of Labcorp in a research note on Friday, July 31st. Weiss Ratings raised shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Piper Sandler upped their price target on Labcorp from $300.00 to $309.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Truist Financial increased their price target on Labcorp from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $330.00.

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.