Raleigh Capital Management Inc. Lowers Stock Position in Labcorp Holdings Inc. $LH

Raleigh Capital Management Inc. lessened its holdings in Labcorp Holdings Inc. (NYSE:LH) by 98.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 145 shares of the medical research company’s stock after selling 11,248 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Labcorp were worth $36,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. State Street Corp lifted its position in shares of Labcorp by 0.9% in the 2nd quarter. State Street Corp now owns 3,863,039 shares of the medical research company’s stock worth $1,014,086,000 after purchasing an additional 36,003 shares during the period. Victory Capital Management Inc. raised its stake in shares of Labcorp by 20.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock worth $756,878,000 after acquiring an additional 440,224 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Labcorp by 10.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company’s stock worth $554,728,000 after acquiring an additional 207,962 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after acquiring an additional 289,029 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake 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 worth $259,734,000 after acquiring an additional 684,153 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on LH. Piper Sandler boosted their price objective on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Robert W. Baird boosted their price objective on shares of Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Wall Street Zen lowered shares of Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Eight 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, Labcorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.70.

Insider Activity at Labcorp

In other Labcorp news, EVP Brian J. Caveney sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total transaction of $429,465.00. Following the transaction, the executive vice president owned 30,107 shares in the company, valued at approximately $8,619,935.17. This represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 8,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total transaction of $2,437,051.80. Following the transaction, the chief executive officer owned 80,773 shares in the company, valued at $22,613,209.08. The trade was a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,113 shares of company stock worth $4,547,450. 0.84% of the stock is owned by company insiders.

Labcorp Trading Down 1.9%

Shares of Labcorp stock opened at $269.18 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72. The firm has a market capitalization of $22.18 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 1.87 and a beta of 1.02. The firm’s 50 day simple moving average is $274.38 and its two-hundred day simple moving average is $268.85.

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

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 27th were paid a dividend of $0.72 per share. The ex-dividend date was Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio is presently 27.53%.

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.