Labcorp Holdings Inc. $LH Stake Cut by Tredje AP fonden

Tredje AP fonden lessened its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 28.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,497 shares of the medical research company’s stock after selling 3,851 shares during the quarter. Tredje AP fonden’s holdings in Labcorp were worth $2,726,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Labcorp by 1.6% during the second quarter. Vanguard Group Inc. now owns 9,879,225 shares of the medical research company’s stock worth $2,593,395,000 after purchasing an additional 156,717 shares during the period. State Street Corp lifted its position in Labcorp by 0.9% in the 2nd quarter. State Street Corp now owns 3,863,039 shares of the medical research company’s stock worth $1,014,086,000 after buying an additional 36,003 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Labcorp by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,113,460 shares of the medical research company’s stock valued at $552,445,000 after buying an additional 44,630 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Labcorp by 3.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,303,307 shares of the medical research company’s stock valued at $342,131,000 after acquiring an additional 43,661 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Labcorp in the second quarter worth $263,070,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent research reports. Robert W. Baird boosted their target price on Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group dropped their price objective on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Morgan Stanley restated an “overweight” rating on shares of Labcorp in a research note on Tuesday. Finally, Weiss Ratings raised shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.75.

Labcorp Trading Up 0.0%

Shares of LH stock opened at $282.57 on Friday. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72. The company has a market cap of $23.43 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $265.50 and its two-hundred day moving average is $269.25.

Labcorp (NYSE:LH) last posted its earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.95 by $0.12. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.56 billion. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. Labcorp’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Equities analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be given 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 of this dividend is Friday, February 27th. Labcorp’s payout ratio is currently 27.53%.

Insider Activity

In other news, EVP Jonathan C. Meltzer sold 87 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total value of $25,266.54. Following the completion of the sale, the executive vice president directly owned 2,782 shares of the company’s stock, valued at approximately $807,948.44. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 5,273 shares of Labcorp stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $284.38, for a total value of $1,499,535.74. Following the sale, the chief executive officer directly owned 87,343 shares in the company, valued at approximately $24,838,602.34. This trade represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by insiders.

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.