Allspring Global Investments Holdings LLC Buys 22,170 Shares of Labcorp Holdings Inc. $LH

Allspring Global Investments Holdings LLC lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 1.0% during the first quarter, Holdings Channel.com reports. The firm owned 2,226,446 shares of the medical research company’s stock after acquiring an additional 22,170 shares during the period. Labcorp accounts for about 1.0% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 8th biggest position. Allspring Global Investments Holdings LLC’s holdings in Labcorp were worth $607,241,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LH. Victory Capital Management Inc. increased its position in Labcorp by 103.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after buying an additional 2,719,475 shares in the last quarter. Boston Partners bought a new position in Labcorp in the fourth quarter worth approximately $480,271,000. Norges Bank bought a new position in Labcorp in the fourth quarter worth approximately $248,006,000. Wellington Management Group LLP grew its stake in Labcorp by 15.9% in the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after acquiring an additional 289,029 shares during the period. Finally, Marshall Wace LLP grew its stake in Labcorp by 79.1% in the third quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock valued at $178,996,000 after acquiring an additional 275,454 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Labcorp

In related news, EVP Bryan T. Vaughn sold 234 shares of Labcorp stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $66,968.46. Following the sale, the executive vice president directly owned 6,746 shares in the company, valued at approximately $1,930,637.74. This trade represents a 3.35% decrease in their ownership of the stock. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the completion of the transaction, the chief executive officer directly owned 107,234 shares in the company, valued at approximately $27,291,053. This represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,991 shares of company stock worth $1,796,696 in the last 90 days. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the topic of a number of research reports. Robert W. Baird upped their target price on Labcorp from $335.00 to $338.00 and gave the stock an “outperform” rating in a research report on Monday. Evercore restated an “outperform” rating and set a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Bank of America raised their price objective on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.40.

Labcorp Stock Performance

Shares of LH stock opened at $282.06 on Friday. The firm has a 50-day moving average of $265.63 and a 200-day moving average of $267.80. The company has a market cap of $23.13 billion, a P/E ratio of 24.98, a P/E/G ratio of 1.81 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72.

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

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

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.