Labcorp Holdings Inc. $LH Shares Purchased by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd boosted its holdings in Labcorp Holdings Inc. (NYSE:LH) by 121.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,029 shares of the medical research company’s stock after buying an additional 20,276 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Labcorp were worth $10,630,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Labcorp during the 4th quarter worth about $991,000. Integrated Wealth Concepts LLC boosted its holdings in Labcorp by 7.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Labcorp by 52.2% in the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after purchasing an additional 121,304 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Labcorp in the second quarter valued at approximately $244,000. Finally, Creative Planning raised its holdings in Labcorp by 0.5% during the second quarter. Creative Planning now owns 15,362 shares of the medical research company’s stock worth $4,033,000 after purchasing an additional 69 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Labcorp

In related news, EVP Jonathan C. Meltzer sold 87 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $290.42, for a total value of $25,266.54. Following the transaction, the executive vice president owned 2,782 shares in the company, valued at $807,948.44. The trade was a 3.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Brian J. Caveney sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total value of $429,465.00. Following the sale, the executive vice president directly owned 30,107 shares of the company’s stock, valued at approximately $8,619,935.17. This represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,113 shares of company stock valued at $4,547,450 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LH. JPMorgan Chase & Co. boosted their price objective on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Robert W. Baird upped their price objective on shares of Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings raised Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and an average target price of $304.82.

Labcorp Price Performance

LH stock opened at $263.18 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $21.69 billion, a P/E ratio of 25.16, a PEG ratio of 1.80 and a beta of 1.01. The business has a 50 day simple moving average of $273.72 and a 200-day simple moving average of $269.56. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72.

Labcorp (NYSE:LH) last announced its earnings results on Tuesday, February 17th. The medical research company reported $4.07 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 analysts’ expectations of $3.56 billion. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. As a group, equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

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

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.