Fragasso Financial Advisors Inc Sells 2,501 Shares of Labcorp Holdings Inc. $LH

Fragasso Financial Advisors Inc lessened its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 35.5% in the 3rd quarter, Holdings Channel reports. The firm owned 4,546 shares of the medical research company’s stock after selling 2,501 shares during the period. Fragasso Financial Advisors Inc’s holdings in Labcorp were worth $1,419,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Labcorp by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock worth $607,241,000 after buying an additional 22,170 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Labcorp by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,332,775 shares of the medical research company’s stock worth $355,569,000 after buying an additional 28,584 shares in the last quarter. Royal Bank of Canada boosted its stake in Labcorp by 19.4% during the first quarter. Royal Bank of Canada now owns 820,442 shares of the medical research company’s stock worth $218,901,000 after buying an additional 133,549 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Labcorp during the 2nd quarter valued at about $168,222,000. Finally, Bessemer Group Inc. raised its stake in Labcorp by 47.3% during the first quarter. Bessemer Group Inc. now owns 579,036 shares of the medical research company’s stock worth $154,493,000 after purchasing an additional 185,847 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Labcorp Stock Performance

Shares of NYSE LH traded up $0.05 during midday trading on Tuesday, reaching $315.57. 104,148 shares of the company were exchanged, compared to its average volume of 690,071. Labcorp Holdings Inc. has a 1 year low of $244.52 and a 1 year high of $341.80. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $320.37 and a 200 day simple moving average of $287.78. The stock has a market cap of $25.59 billion, a P/E ratio of 26.11, a PEG ratio of 1.78 and a beta of 0.87.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the business posted $4.35 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, research analysts forecast that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LH. Morgan Stanley boosted their price objective on shares of Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Robert W. Baird set a $352.00 target price on Labcorp in a research note on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Bank of America upped their target price on shares of Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Barclays upped their price objective on Labcorp from $320.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, September 11th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $337.73.

Insider Activity at Labcorp

In other Labcorp news, CEO Adam Schechter sold 4,669 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the transaction, the chief executive officer directly owned 102,565 shares in the company, valued at approximately $32,858,749.05. This represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kerrii Anderson sold 3,000 shares of Labcorp stock in a transaction on Monday, August 17th. The stock was sold at an average price of $318.02, for a total value of $954,060.00. Following the transaction, the director directly owned 6,563 shares of the company’s stock, valued at approximately $2,087,165.26. This represents a 31.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,593 shares of company stock worth $2,733,295 over the last 90 days. Company insiders own 0.84% of the company’s stock.

About Labcorp

Labcorp (NYSE:LH), formally Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing, drug development services and technology-enabled laboratory solutions to healthcare providers, pharmaceutical and biotechnology companies, government agencies and consumers.

Its diagnostics business offers routine and specialty laboratory testing, including testing related to oncology, women’s health, infectious diseases, genetics and genomics.