Labcorp Holdings Inc. $LH is Madison Asset Management LLC’s 10th Largest Position

Madison Asset Management LLC lessened its stake in Labcorp Holdings Inc. (NYSE:LH) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,546 shares of the medical research company’s stock after selling 35,332 shares during the period. Labcorp accounts for approximately 1.6% of Madison Asset Management LLC’s portfolio, making the stock its 10th largest position. Madison Asset Management LLC owned approximately 0.60% of Labcorp worth $130,883,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new stake in shares of Labcorp in the 3rd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Labcorp during the 4th quarter worth approximately $26,000. Hilton Head Capital Partners LLC acquired a new position in Labcorp during the fourth quarter worth approximately $27,000. Eagle Bay Advisors LLC acquired a new position in Labcorp during the fourth quarter worth approximately $29,000. Finally, DV Equities LLC purchased a new stake in Labcorp in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, EVP Bryan T. Vaughn sold 234 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the transaction, the executive vice president owned 6,746 shares in the company, valued at $1,930,637.74. This trade represents a 3.35% decrease in their ownership of the stock. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kathryn W. Kyle sold 762 shares of the firm’s stock in a transaction dated 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 owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This trade represents a 16.66% 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. Over the last three months, insiders have sold 6,991 shares of company stock worth $1,796,696. 0.84% of the stock is owned by company insiders.

Labcorp Trading Down 0.9%

NYSE:LH opened at $280.86 on Tuesday. Labcorp Holdings Inc. has a 12-month low of $241.81 and a 12-month high of $293.72. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The stock’s 50 day simple moving average is $266.74 and its 200-day simple moving average is $268.21. The firm has a market cap of $23.03 billion, a P/E ratio of 24.88, a PEG ratio of 1.88 and a beta of 0.89.

Labcorp (NYSE:LH) last posted its quarterly earnings data 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 net margin of 6.66% and a return on equity of 16.29%. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the firm posted $3.84 EPS. Labcorp’s quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend 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 is 25.51%.

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.