Leeward Investments LLC MA Sells 2,593 Shares of Labcorp Holdings Inc. $LH

Leeward Investments LLC MA reduced its holdings in Labcorp Holdings Inc. (NYSE:LH) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,346 shares of the medical research company’s stock after selling 2,593 shares during the quarter. Leeward Investments LLC MA owned about 0.05% of Labcorp worth $11,376,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Labcorp in the fourth quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new stake in Labcorp in the third quarter valued at approximately $28,000. Eagle Bay Advisors LLC acquired a new stake in Labcorp in the fourth quarter valued at approximately $29,000. Beacon Financial Strategies CORP acquired a new stake in Labcorp in the fourth quarter valued at approximately $33,000. Finally, Headlands Technologies LLC grew its stake in Labcorp by 300.0% in the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 96 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Labcorp Stock Down 0.2%

Shares of NYSE:LH opened at $253.87 on Friday. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.78 and a beta of 0.91. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 12-month low of $239.67 and a 12-month high of $293.72. The business’s 50 day moving average is $265.94 and its 200 day moving average is $265.73.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.16. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.Labcorp’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, sell-side analysts forecast that Labcorp Holdings Inc. will post 17.99 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s payout ratio is presently 25.51%.

Insider Activity at Labcorp

In related news, EVP Brian J. Caveney sold 1,500 shares of Labcorp stock in a transaction that occurred on Tuesday, February 24th. The stock was 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 of the company’s stock, valued at $8,619,935.17. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 8,705 shares of Labcorp stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total value of $2,437,051.80. Following the transaction, the chief executive officer directly owned 80,773 shares in the company, valued at approximately $22,613,209.08. The trade was a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,656 shares of company stock valued at $4,524,961 over the last 90 days. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LH. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Piper Sandler raised their price objective on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Robert W. Baird set a $334.00 price objective on Labcorp in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $308.00.

About Labcorp

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.