Smithbridge Asset Management Inc. DE Has $3.56 Million Stake in Labcorp Holdings Inc. $LH

Smithbridge Asset Management Inc. DE trimmed its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 49.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,324 shares of the medical research company’s stock after selling 13,214 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Labcorp were worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of LH. Brighton Jones LLC acquired a new position in shares of Labcorp in the 4th quarter valued at about $991,000. Integrated Wealth Concepts LLC boosted its holdings in Labcorp by 7.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock worth $565,000 after acquiring an additional 177 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Labcorp by 52.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after purchasing an additional 121,304 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Labcorp during the second quarter worth about $5,873,000. Finally, First Trust Advisors LP increased its holdings in Labcorp by 83.2% during the 2nd quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock worth $22,588,000 after purchasing an additional 39,087 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling at Labcorp

In other news, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the completion of the transaction, the executive vice president directly owned 3,813 shares of the company’s stock, valued at approximately $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the sale, the chief executive officer owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.84% of the company’s stock.

Labcorp Trading Up 1.6%

LH stock opened at $284.38 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. The company has a market capitalization of $23.32 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. The company’s 50 day moving average price is $261.70 and its two-hundred day moving average price is $265.94. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72.

Labcorp (NYSE:LH) last posted its quarterly 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. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business posted $3.84 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, analysts predict that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 29th. Labcorp’s dividend payout ratio is currently 25.51%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Robert W. Baird set a $334.00 target price on shares of Labcorp in a report on Friday, May 1st. Evercore reissued an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a report on Wednesday, April 8th. Wall Street Zen lowered Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $308.00.

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.