Labcorp Holdings Inc. $LH Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 103.1% during the fourth quarter, HoldingsChannel reports. The firm owned 5,356,825 shares of the medical research company’s stock after purchasing an additional 2,719,475 shares during the quarter. Labcorp makes up about 0.8% of Victory Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Victory Capital Management Inc. owned about 0.06% of Labcorp worth $1,343,922,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. JPL Wealth Management LLC acquired a new stake in shares of Labcorp in the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Labcorp in the fourth quarter worth $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Labcorp in the fourth quarter worth $27,000. Eagle Bay Advisors LLC acquired a new stake in shares of Labcorp in the fourth quarter worth $29,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Labcorp by 48.8% in the third quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock worth $35,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Price Performance

NYSE:LH opened at $265.45 on Friday. The firm has a market capitalization of $21.77 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 1.86 and a beta of 0.90. Labcorp Holdings Inc. has a 52-week low of $241.81 and a 52-week high of $293.72. The stock has a fifty day moving average of $262.65 and a 200 day moving average of $265.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.16. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, research analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s payout ratio is 25.51%.

Insider Activity

In other Labcorp news, EVP Kathryn W. Kyle sold 762 shares of Labcorp stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $263.89, for a total transaction of $201,084.18. Following the completion of the sale, the executive vice president owned 3,813 shares of the company’s stock, valued at $1,006,212.57. The trade was a 16.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction dated 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 sale, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This trade represents a 5.22% 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. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

LH has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research note on Friday, May 1st. Piper Sandler increased their price objective on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen downgraded shares of Labcorp from a “buy” rating to a “hold” rating in a report on Saturday. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Labcorp presently has an average rating of “Moderate Buy” and a consensus target price of $308.00.

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.