Tred Avon Family Wealth LLC Takes Position in Labcorp Holdings Inc. $LH

Tred Avon Family Wealth LLC acquired a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 1,954 shares of the medical research company’s stock, valued at approximately $521,000.

A number of other large investors also recently bought and sold shares of the business. REAP Financial Group LLC lifted its holdings in Labcorp by 20.4% during the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock worth $55,000 after buying an additional 37 shares during the period. Hilltop Holdings Inc. boosted its position in Labcorp by 2.6% during the 4th quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock valued at $409,000 after acquiring an additional 41 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Labcorp by 3.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after acquiring an additional 42 shares during the period. Larson Financial Group LLC increased its holdings in shares of Labcorp by 37.5% in the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after acquiring an additional 42 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Labcorp by 7.6% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 668 shares of the medical research company’s stock worth $168,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Price Performance

NYSE LH opened at $279.60 on Tuesday. The firm’s fifty day simple moving average is $261.22 and its two-hundred day simple moving average is $265.68. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 12-month low of $241.81 and a 12-month high of $293.72. The firm has a market capitalization of $22.93 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.90 and a beta of 0.90.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the firm posted $3.84 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Analysts forecast that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp’s dividend payout ratio is currently 25.51%.

Insider Activity

In other news, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares in the company, valued at $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the transaction, the chief executive officer owned 107,234 shares in the company, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of analyst reports. Wall Street Zen cut Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Robert W. Baird set a $334.00 target price on Labcorp in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Finally, Evercore reissued an “outperform” rating and set a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Eight 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $308.00.

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.