Mirae Asset Global Investments Co. Ltd. Has $3.81 Million Stock Holdings in Labcorp Holdings Inc. $LH

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 21.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,191 shares of the medical research company’s stock after buying an additional 2,649 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Labcorp were worth $3,811,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Labcorp in the 4th quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in Labcorp in the 3rd quarter valued at about $28,000. Eagle Bay Advisors LLC acquired a new stake in Labcorp in the 4th quarter valued at about $29,000. Motco acquired a new stake in Labcorp in the 3rd quarter valued at about $32,000. Finally, Beacon Financial Strategies CORP acquired a new stake in Labcorp in the 4th quarter valued at about $33,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Labcorp

In other news, CEO Adam H. Schechter sold 8,705 shares of the firm’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 directly owned 80,773 shares of the company’s stock, valued at approximately $22,613,209.08. This trade represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $284.91, for a total transaction of $156,130.68. Following the transaction, the executive vice president directly owned 2,579 shares in the company, valued at $734,782.89. This represents a 17.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,113 shares of company stock valued at $4,547,450 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LH shares. JPMorgan Chase & Co. raised their target price on shares of Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Piper Sandler raised their target price on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded shares of Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $307.20.

Labcorp Stock Up 1.7%

Labcorp stock opened at $273.64 on Wednesday. The stock has a market cap of $22.49 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.84 and a beta of 1.02. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. Labcorp Holdings Inc. has a twelve month low of $214.02 and a twelve month high of $293.72. The company’s 50-day moving average price is $273.35 and its two-hundred day moving average price is $268.07.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.12. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. As a group, analysts expect that Labcorp Holdings Inc. will post 17.67 EPS for the current year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be issued 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 dividend payout ratio (DPR) is currently 27.53%.

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.