Sei Investments Co. Boosts Holdings in Labcorp Holdings Inc. $LH

Sei Investments Co. boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 4.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 223,715 shares of the medical research company’s stock after buying an additional 10,513 shares during the period. Sei Investments Co.’s holdings in Labcorp were worth $59,689,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC bought a new position in shares of Labcorp during the 3rd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Labcorp in the fourth quarter worth about $26,000. Hilton Head Capital Partners LLC purchased a new position in Labcorp during the 4th quarter valued at approximately $27,000. Eagle Bay Advisors LLC bought a new stake in Labcorp in the 4th quarter worth approximately $29,000. Finally, DV Equities LLC purchased a new stake in shares of Labcorp during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kathryn W. Kyle sold 92 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 $26,329.48. Following the completion of the sale, the executive vice president directly owned 3,904 shares in the company, valued at approximately $1,117,285.76. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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, EVP Bryan T. Vaughn sold 234 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $66,968.46. Following the completion of the transaction, the executive vice president directly owned 6,746 shares in the company, valued at $1,930,637.74. This represents a 3.35% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 6,991 shares of company stock valued at $1,796,696. Insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of recent research reports. Evercore reissued an “outperform” rating and issued a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Robert W. Baird lifted their price objective on shares of Labcorp from $335.00 to $338.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Bank of America upped their target price on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Weiss Ratings raised Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Labcorp presently has an average rating of “Moderate Buy” and an average price target of $315.33.

Labcorp Trading Up 2.0%

Shares of LH opened at $296.71 on Friday. The company’s fifty day simple moving average is $269.38 and its 200-day simple moving average is $269.09. The company has a market cap of $24.33 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.97 and a beta of 0.89. 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 twelve month low of $244.52 and a twelve month high of $298.58.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating 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 company 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 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 28th. Labcorp’s dividend payout ratio is presently 25.51%.

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.