J.Safra Asset Management Corp Purchases New Holdings in Labcorp Holdings Inc. $LH

J.Safra Asset Management Corp acquired a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,421 shares of the medical research company’s stock, valued at approximately $678,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new position in shares of Labcorp during the 4th quarter valued at approximately $27,000. JPL Wealth Management LLC acquired a new stake in shares of Labcorp during the third quarter worth approximately $28,000. DV Equities LLC bought a new stake in shares of Labcorp in the fourth quarter worth $29,000. Allied Private Wealth LLC acquired a new stake in Labcorp in the second quarter valued at $33,000. Finally, EFG International AG acquired a new stake in Labcorp in the fourth quarter valued at $33,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Kathryn W. Kyle sold 92 shares of Labcorp stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $26,329.48. Following the completion of the transaction, the executive vice president directly owned 3,904 shares in the company, valued at $1,117,285.76. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 Amy B. Summy sold 924 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total value 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 trade represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,681 shares of company stock worth $2,073,617 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LH shares. Morgan Stanley raised their price objective on shares of Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Bank of America increased their price target 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. JPMorgan Chase & Co. lifted their price target on Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Labcorp currently has an average rating of “Moderate Buy” and an average target price of $330.00.

Labcorp Stock Performance

Shares of LH opened at $318.02 on Monday. The stock has a market capitalization of $25.79 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 1.84 and a beta of 0.87. The business’s fifty day moving average price is $286.24 and its 200 day moving average price is $274.72. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. Labcorp Holdings Inc. has a 12-month low of $244.52 and a 12-month high of $325.58.

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

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s dividend payout ratio is currently 23.82%.

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.