Labcorp Holdings Inc. $LH Shares Sold by Swedbank AB

Swedbank AB cut its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 7.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 53,090 shares of the medical research company’s stock after selling 4,289 shares during the quarter. Swedbank AB’s holdings in Labcorp were worth $14,165,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in Labcorp in the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Labcorp during the 4th quarter worth $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Labcorp during the fourth quarter worth $27,000. Eagle Bay Advisors LLC acquired a new stake in shares of Labcorp during the fourth quarter worth $29,000. Finally, DV Equities LLC purchased a new stake in shares of Labcorp in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Trading Down 0.1%

NYSE:LH opened at $277.51 on Friday. The business’s 50-day moving average is $263.69 and its two-hundred day moving average is $267.01. The firm has a market capitalization of $22.76 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.94 and a beta of 0.89. Labcorp Holdings Inc. has a 12 month low of $241.81 and a 12 month high of $293.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. The business 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 company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Research analysts predict that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LH. Wall Street Zen downgraded Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings restated 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 Labcorp in a report on Friday, May 1st. Finally, Evercore reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $313.33.

Insider Buying and Selling at Labcorp

In other news, EVP Bryan T. Vaughn sold 234 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, EVP Kathryn W. Kyle sold 92 shares of the firm’s stock in a transaction 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 sale, 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 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,991 shares of company stock valued at $1,796,696 over the last 90 days. 0.84% of the stock is owned by corporate insiders.

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.