Fox Run Management L.L.C. Makes New $1.78 Million Investment in Labcorp Holdings Inc. $LH

Fox Run Management L.L.C. acquired a new position in Labcorp Holdings Inc. (NYSE:LH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,086 shares of the medical research company’s stock, valued at approximately $1,778,000.

Several other large investors have also recently bought and sold shares of LH. Norges Bank purchased a new position in Labcorp in the fourth quarter worth $248,006,000. Victory Capital Management Inc. raised its position in Labcorp by 20.0% in the third quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock worth $756,878,000 after acquiring an additional 440,224 shares in the last quarter. Wellington Management Group LLP raised its position in Labcorp by 15.9% in the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after acquiring an additional 289,029 shares in the last quarter. Marshall Wace LLP raised its position in Labcorp by 79.1% in the third quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock worth $178,996,000 after acquiring an additional 275,454 shares in the last quarter. Finally, Mondrian Investment Partners LTD purchased a new position in Labcorp in the third quarter worth $75,208,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LH shares. Piper Sandler increased their price objective on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. increased their price objective on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Evercore reiterated an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. Robert W. Baird set a $334.00 price target on Labcorp in a research report on Friday, May 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.00.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 5,903 shares of Labcorp 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 completion of the sale, the chief executive officer owned 107,234 shares in the company, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Down 1.3%

Shares of LH stock opened at $261.67 on Tuesday. Labcorp Holdings Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $293.72. The stock has a market cap of $21.46 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.86 and a beta of 0.90. The business has a fifty day simple moving average of $262.61 and a 200-day simple moving average of $265.66. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68.

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

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be given a $0.72 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

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.