Korea Investment CORP Acquires 8,500 Shares of Labcorp Holdings Inc. $LH

Korea Investment CORP increased its holdings in Labcorp Holdings Inc. (NYSE:LH) by 36.4% during the third quarter, HoldingsChannel reports. The fund owned 31,858 shares of the medical research company’s stock after acquiring an additional 8,500 shares during the quarter. Korea Investment CORP’s holdings in Labcorp were worth $9,145,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Labcorp by 1.6% during the 2nd 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 in the last quarter. State Street Corp boosted its position in shares of Labcorp by 0.9% during the second quarter. State Street Corp now owns 3,863,039 shares of the medical research company’s stock valued at $1,014,086,000 after buying an additional 36,003 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Labcorp by 20.0% during the third quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock worth $756,878,000 after buying an additional 440,224 shares in the last quarter. Geode Capital Management LLC raised its position in Labcorp by 2.2% in 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 last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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. Institutional investors own 95.94% of the company’s stock.

Labcorp Price Performance

Labcorp stock opened at $270.27 on Thursday. The business’s 50 day simple moving average is $272.12 and its 200 day simple moving average is $270.12. 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 $22.27 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.83 and a beta of 1.01. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60.

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

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is presently 27.53%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Robert W. Baird lifted their target price on shares of Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. lifted their price target on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Finally, Piper Sandler boosted their price objective on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.82.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 8,705 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $279.96, for a total transaction of $2,437,051.80. Following the sale, the chief executive officer owned 80,773 shares in the company, valued at $22,613,209.08. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian J. Caveney sold 1,500 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total value of $429,465.00. Following the completion of the transaction, the executive vice president directly owned 30,107 shares of the company’s stock, valued at $8,619,935.17. The trade was a 4.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,113 shares of company stock worth $4,547,450. 0.84% of the stock is currently owned by company 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.