20,883 Shares in Labcorp Holdings Inc. $LH Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC bought a new stake in Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 20,883 shares of the medical research company’s stock, valued at approximately $5,847,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Labcorp by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock valued at $2,471,326,000 after purchasing an additional 37,197 shares during the period. Victory Capital Management Inc. lifted its holdings in Labcorp by 103.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after buying an additional 2,719,475 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Labcorp by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock worth $607,241,000 after buying an additional 22,170 shares in the last quarter. Geode Capital Management LLC boosted its position in Labcorp by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after buying an additional 13,775 shares during the period. Finally, Wellington Management Group LLP boosted its position in Labcorp by 15.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after buying an additional 289,029 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Labcorp

In other news, EVP Kathryn W. Kyle sold 762 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares in the company, valued at approximately $1,006,212.57. This represents a 16.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy B. Summy sold 924 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total value 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 trade represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,681 shares of company stock worth $3,027,677. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial upped their price objective on Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Piper Sandler lifted their target price on Labcorp from $300.00 to $309.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Barclays boosted their target price on Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Finally, Morgan Stanley increased their price target on Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $330.00.

Labcorp Trading Up 2.7%

NYSE LH opened at $330.77 on Thursday. Labcorp Holdings Inc. has a 52 week low of $244.52 and a 52 week high of $331.20. The firm has a 50 day moving average of $289.75 and a two-hundred day moving average of $275.91. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $26.83 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.21. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, research analysts expect that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s payout ratio is 23.82%.

About Labcorp

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.