Comerica Bank Acquires 3,796 Shares of Labcorp Holdings Inc. $LH

Comerica Bank lifted its position in Labcorp Holdings Inc. (NYSE:LH) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,175 shares of the medical research company’s stock after buying an additional 3,796 shares during the period. Comerica Bank’s holdings in Labcorp were worth $8,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dakota Wealth Management boosted its stake in shares of Labcorp by 98.6% in the 3rd quarter. Dakota Wealth Management now owns 10,303 shares of the medical research company’s stock worth $2,958,000 after buying an additional 5,116 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Labcorp by 12.0% in the 3rd quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company’s stock worth $12,859,000 after buying an additional 4,800 shares during the last quarter. Independent Advisor Alliance boosted its stake in shares of Labcorp by 166.6% in the 3rd quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company’s stock worth $3,477,000 after buying an additional 7,568 shares during the last quarter. 8 Knots Management LLC boosted its stake in shares of Labcorp by 96.6% in the 3rd quarter. 8 Knots Management LLC now owns 204,859 shares of the medical research company’s stock worth $58,807,000 after buying an additional 100,675 shares during the last quarter. Finally, Cinctive Capital Management LP purchased a new position in shares of Labcorp in the 3rd quarter worth $3,297,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Labcorp Price Performance

Shares of Labcorp stock opened at $257.38 on Thursday. The stock’s 50-day simple moving average is $271.20 and its 200-day simple moving average is $267.56. Labcorp Holdings Inc. has a 52 week low of $234.15 and a 52 week high of $293.72. The company has a market capitalization of $21.15 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.80 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 (NYSE:LH) last announced its quarterly earnings data on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.95 by $0.12. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the business earned $3.45 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company 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 $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 29th. Labcorp’s payout ratio is 27.53%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LH shares. Evercore restated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Wall Street Zen downgraded Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Robert W. Baird lifted their target price on Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, Piper Sandler lifted their target price on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.20.

Insider Transactions at Labcorp

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 548 shares of the business’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 completion of the transaction, the executive vice president owned 2,579 shares in the company, valued at $734,782.89. The trade was a 17.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 8,705 shares of the business’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 value of $2,437,051.80. Following the transaction, the chief executive officer owned 80,773 shares of the company’s stock, valued at $22,613,209.08. This trade represents a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,113 shares of company stock valued at $4,547,450. 0.84% of the stock is owned by company insiders.

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.