Labcorp Holdings Inc. $LH Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 21,926 shares of the medical research company’s stock, valued at approximately $6,756,000.

Other hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in Labcorp by 106.5% in the first quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company’s stock worth $15,470,000 after purchasing an additional 29,899 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Labcorp during the second quarter valued at approximately $7,792,000. Tidal Investments LLC grew its stake in shares of Labcorp by 12.4% during the second quarter. Tidal Investments LLC now owns 30,559 shares of the medical research company’s stock valued at $8,557,000 after buying an additional 3,372 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Labcorp during the second quarter valued at approximately $168,222,000. Finally, Royal Bank of Canada grew its stake in shares of Labcorp by 19.4% during the first quarter. Royal Bank of Canada now owns 820,442 shares of the medical research company’s stock valued at $218,901,000 after buying an additional 133,549 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Activity at Labcorp

In related news, Director Richelle P. Parham sold 1,078 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $361.22, for a total value of $389,395.16. Following the transaction, the director owned 2,288 shares of the company’s stock, valued at $826,471.36. This represents a 32.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 3,000 shares of the firm’s 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 owned 6,563 shares in the company, valued at $2,087,165.26. The trade was a 31.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 9,053 shares of company stock worth $2,947,495. Insiders own 0.84% of the company’s stock.

More Labcorp News

Here are the key news stories impacting Labcorp this week:

• Positive Sentiment: HSBC upgraded Labcorp from “hold” to “buy” and set a $410 price target, implying about 13% upside from the cited share price. HSBC analyst rating
• Positive Sentiment: Mizuho raised its price target to $400 from $355, adding to the constructive analyst outlook. Mizuho price target update
• Positive Sentiment: Zacks highlighted LH as a top-ranked momentum stock, which may attract investors focused on price trends; the article is promotional research content, not a guarantee of future performance. Zacks momentum-stock article
• Positive Sentiment: Labcorp completed its acquisition of Millennium Health, expanding its business; the provided report does not detail the expected financial contribution. Millennium Health acquisition completion
• Neutral Sentiment: CFO Julia Wang is scheduled to speak at the UBS Global Healthcare Conference on November 10; no new financial guidance was reported. Conference announcement
• Negative Sentiment: EVP Bryan Vaughn sold 306 shares, while director Richelle Parham sold 1,078 shares. Vaughn’s sale was under a pre-arranged Rule 10b5-1 plan; insider sales can create some near-term concern but do not necessarily signal a change in outlook. Insider transaction report

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price target on Labcorp from $361.00 to $396.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th. UBS Group boosted their price objective on Labcorp from $380.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Truist Financial upped their price objective on Labcorp from $365.00 to $395.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Finally, HSBC upgraded Labcorp from a “hold” rating to a “buy” rating and set a $410.00 target price on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $369.08.

Labcorp Trading Down 1.3%

Shares of LH opened at $362.93 on Friday. Labcorp Holdings Inc. has a 1-year low of $244.52 and a 1-year high of $373.34. The company has a 50-day moving average of $325.05 and a 200 day moving average of $289.53. The firm has a market capitalization of $29.47 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.08 and a beta of 0.86. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 1.22.

Labcorp (NYSE:LH) last released its quarterly earnings data on Wednesday, October 28th. The medical research company reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.64 by $0.14. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Labcorp had a net margin of 6.88% and a return on equity of 17.13%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $4.18 EPS. On average, research analysts expect that Labcorp Holdings Inc. will post 18.51 EPS for the current year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 24th. Labcorp’s payout ratio is currently 23.63%.

About Labcorp

Labcorp (NYSE: LH), formally Laboratory Corporation of America Holdings, is a global life sciences and healthcare company headquartered in Burlington, North Carolina. The company provides laboratory testing and diagnostic services to physicians, hospitals, health systems, employers, insurers and consumers.

Through its diagnostics operations, Labcorp offers routine and specialty testing, oncology diagnostics, women’s health testing, genetic testing, pathology services and other laboratory services.