21,013 Shares in Labcorp Holdings Inc. $LH Purchased by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,013 shares of the medical research company’s stock, valued at approximately $5,607,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CI Investments Inc. increased its holdings in shares of Labcorp by 13.4% in the 1st quarter. CI Investments Inc. now owns 1,354 shares of the medical research company’s stock valued at $361,000 after purchasing an additional 160 shares during the period. First Trust Advisors LP boosted its holdings in shares of Labcorp by 12.8% during the first quarter. First Trust Advisors LP now owns 217,402 shares of the medical research company’s stock worth $58,005,000 after purchasing an additional 24,605 shares during the period. ABN Amro Investment Solutions boosted its holdings in shares of Labcorp by 18.1% during the first quarter. ABN Amro Investment Solutions now owns 2,954 shares of the medical research company’s stock worth $788,000 after purchasing an additional 453 shares during the period. Oslo Pensjonsforsikring AS purchased a new position in Labcorp during the first quarter valued at approximately $178,000. Finally, Andra AP fonden grew its position in Labcorp by 58.5% during the first quarter. Andra AP fonden now owns 54,662 shares of the medical research company’s stock valued at $14,584,000 after purchasing an additional 20,182 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Trading Up 0.9%

Shares of NYSE LH opened at $281.85 on Thursday. The business has a 50 day simple moving average of $267.72 and a 200 day simple moving average of $268.63. Labcorp Holdings Inc. has a 52 week low of $244.52 and a 52 week high of $293.72. The stock has a market cap of $23.11 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.09 by $0.16. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, research analysts predict that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of research analyst reports. Evercore reiterated an “outperform” rating and issued a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Bank of America boosted their price target on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Robert W. Baird increased their price objective on Labcorp from $335.00 to $338.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $314.40.

Insider Activity

In other Labcorp news, EVP Kathryn W. Kyle sold 762 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president directly owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the transaction, the executive vice president owned 6,746 shares in the company, valued at approximately $1,930,637.74. This trade represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 6,991 shares of company stock worth $1,796,696. 0.84% of the stock is owned by corporate insiders.

Labcorp Company 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.