Mitsubishi UFJ Asset Management Co. Ltd. Acquires 10,359 Shares of Labcorp Holdings Inc. $LH

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Labcorp Holdings Inc. (NYSE:LH) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,590 shares of the medical research company’s stock after purchasing an additional 10,359 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Labcorp were worth $48,395,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LH. Caldwell Trust Co purchased a new position in shares of Labcorp in the second quarter worth $25,000. Financial Gravity Companies Inc. bought a new stake in Labcorp in the 2nd quarter valued at $26,000. Motco purchased a new stake in Labcorp in the 3rd quarter worth $32,000. Headlands Technologies LLC lifted its stake in Labcorp by 300.0% in the 2nd quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Labcorp by 48.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 40 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. lifted their price objective on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Piper Sandler upped their price objective on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Finally, Robert W. Baird boosted their price target on shares of Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $304.42.

Labcorp Trading Up 0.5%

LH stock opened at $288.92 on Friday. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The stock has a market capitalization of $23.81 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 1.97 and a beta of 1.03. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $268.50 and its two-hundred day simple moving average is $270.01.

Labcorp (NYSE:LH) last released its earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.12. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.56 billion. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. As a group, analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s dividend payout ratio is currently 27.53%.

Insider Transactions at Labcorp

In related news, EVP Jonathan C. Meltzer sold 87 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total transaction of $25,266.54. Following the completion of the transaction, the executive vice president owned 2,782 shares in the company, valued at $807,948.44. The trade was a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 5,273 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $284.38, for a total value of $1,499,535.74. Following the completion of the sale, the chief executive officer owned 87,343 shares in the company, valued at approximately $24,838,602.34. The trade was a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 6,860 shares of company stock worth $1,954,267. 0.84% of the stock is currently owned by company insiders.

Labcorp 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.