Labcorp Holdings Inc. $LH Shares Sold by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC lessened its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 610,845 shares of the medical research company’s stock after selling 3,190 shares during the period. Labcorp makes up 3.2% of Beck Mack & Oliver LLC’s portfolio, making the stock its 11th biggest position. Beck Mack & Oliver LLC owned about 0.74% of Labcorp worth $175,349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Advisor Alliance grew its stake in Labcorp by 166.6% during the third quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company’s stock worth $3,477,000 after buying an additional 7,568 shares during the period. New York State Common Retirement Fund raised its stake in shares of Labcorp by 12.0% in the 3rd quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company’s stock valued at $12,859,000 after acquiring an additional 4,800 shares during the period. Dakota Wealth Management lifted its holdings in shares of Labcorp by 98.6% during the 3rd quarter. Dakota Wealth Management now owns 10,303 shares of the medical research company’s stock valued at $2,958,000 after acquiring an additional 5,116 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Labcorp by 224.1% during the 2nd quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock valued at $259,734,000 after acquiring an additional 684,153 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Labcorp by 3.1% in the second quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock worth $9,012,000 after buying an additional 1,043 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Trading Up 0.2%

NYSE:LH opened at $263.57 on Friday. The firm has a market capitalization of $21.72 billion, a P/E ratio of 25.20, a P/E/G ratio of 1.80 and a beta of 1.01. The business has a 50 day simple moving average of $272.59 and a 200 day simple moving average of $269.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.42 and a quick ratio of 1.23. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72.

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

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 27th were given a $0.72 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is currently 27.53%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LH. Piper Sandler upped their target price on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings raised shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Finally, Robert W. Baird upped their price objective on Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $304.82.

Insider Activity

In other Labcorp news, EVP Brian J. Caveney sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total transaction of $429,465.00. Following the completion of the transaction, the executive vice president directly owned 30,107 shares of the company’s stock, valued at $8,619,935.17. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 8,705 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $279.96, for a total transaction of $2,437,051.80. Following the completion of the transaction, the chief executive officer owned 80,773 shares of the company’s stock, valued at approximately $22,613,209.08. This trade represents a 9.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 16,113 shares of company stock valued at $4,547,450. 0.84% of the stock is 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.