Labcorp Holdings Inc. $LH Stock: Smithbridge Asset Management Inc. DE Reduces Position

Smithbridge Asset Management Inc. DE reduced its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 94.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675 shares of the medical research company’s stock after selling 12,532 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Labcorp were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Labcorp by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock worth $607,241,000 after acquiring an additional 22,170 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Labcorp by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,332,775 shares of the medical research company’s stock valued at $355,569,000 after acquiring an additional 28,584 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Labcorp by 19.4% during the first quarter. Royal Bank of Canada now owns 820,442 shares of the medical research company’s stock valued at $218,901,000 after acquiring an additional 133,549 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Labcorp during the second quarter valued at about $168,222,000. Finally, Bessemer Group Inc. raised its position in shares of Labcorp by 47.3% in the 1st quarter. Bessemer Group Inc. now owns 579,036 shares of the medical research company’s stock valued at $154,493,000 after purchasing an additional 185,847 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LH. Barclays lifted their target price on shares of Labcorp from $320.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Friday, September 11th. Bank of America boosted their target price on shares of Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Morgan Stanley upped their price target on shares of Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $306.00 price target on shares of Labcorp in a report on Friday, July 31st. Finally, Mizuho set a $355.00 price objective on shares of Labcorp in a research note on Monday, August 10th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $337.73.

Insider Buying and Selling

In other Labcorp news, CEO Adam Schechter sold 4,669 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the completion of the transaction, the chief executive officer directly owned 102,565 shares of the company’s stock, valued at approximately $32,858,749.05. This trade represents a 4.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy Summy sold 924 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total transaction of $283,427.76. Following the transaction, the executive vice president directly owned 6,956 shares of the company’s stock, valued at $2,133,683.44. This represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 8,593 shares of company stock worth $2,733,295. 0.84% of the stock is owned by company insiders.

Labcorp Stock Up 1.3%

Labcorp stock opened at $322.90 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80. The business’s 50-day simple moving average is $320.55 and its two-hundred day simple moving average is $289.98. The company has a market cap of $26.19 billion, a PE ratio of 26.71, a PEG ratio of 1.82 and a beta of 0.87. Labcorp Holdings Inc. has a fifty-two week low of $244.52 and a fifty-two week high of $341.80.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.21. Labcorp had a return on equity of 16.74% and a net margin of 6.99%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the business posted $4.35 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Company Profile

Labcorp (NYSE: LH), formally Laboratory Corporation of America Holdings, is a global life sciences and healthcare company headquartered in Burlington, North Carolina. The company provides laboratory testing and diagnostic services to physicians, hospitals, health systems, employers, insurers and consumers.

Through its diagnostics operations, Labcorp offers routine and specialty testing, oncology diagnostics, women’s health testing, genetic testing, pathology services and other laboratory services.