Bessemer Group Inc. Acquires 209,947 Shares of Labcorp Holdings Inc. $LH

Bessemer Group Inc. boosted its holdings in Labcorp Holdings Inc. (NYSE:LH) by 114.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 393,189 shares of the medical research company’s stock after buying an additional 209,947 shares during the period. Bessemer Group Inc.’s holdings in Labcorp were worth $98,644,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its holdings in Labcorp by 48.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock valued at $35,000 after buying an additional 40 shares during the last quarter. Advisor OS LLC raised its holdings in Labcorp by 5.4% in the 3rd quarter. Advisor OS LLC now owns 821 shares of the medical research company’s stock valued at $236,000 after buying an additional 42 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in Labcorp by 3.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after buying an additional 42 shares during the last quarter. Larson Financial Group LLC raised its holdings in Labcorp by 37.5% in the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after buying an additional 42 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Labcorp by 8.1% in the 3rd quarter. Covestor Ltd now owns 652 shares of the medical research company’s stock valued at $187,000 after buying an additional 49 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of LH stock opened at $250.30 on Friday. The firm has a market capitalization of $20.52 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. The firm has a fifty day simple moving average of $265.33 and a two-hundred day simple moving average of $265.62. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 12 month low of $239.75 and a 12 month high of $293.72.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. The business had revenue of $3.54 billion during 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%. Labcorp’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Analysts forecast that Labcorp Holdings Inc. will post 17.99 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, May 29th. Labcorp’s payout ratio is 25.51%.

Analyst Ratings Changes

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

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 548 shares of Labcorp stock in a transaction on Friday, February 27th. The shares were 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 of the company’s stock, valued at $734,782.89. The trade was a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian J. Caveney sold 1,500 shares of Labcorp stock in a transaction 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 directly owned 30,107 shares in the company, valued at $8,619,935.17. This represents a 4.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 16,656 shares of company stock worth $4,524,961. 0.84% of the stock is owned by corporate insiders.

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.