DNB Asset Management AS Grows Stock Holdings in Labcorp Holdings Inc. $LH

DNB Asset Management AS increased its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,312 shares of the medical research company’s stock after buying an additional 6,966 shares during the period. DNB Asset Management AS’s holdings in Labcorp were worth $11,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of LH. Brighton Jones LLC purchased a new position in shares of Labcorp during the fourth quarter valued at approximately $991,000. Integrated Wealth Concepts LLC raised its stake in shares of Labcorp by 7.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after acquiring an additional 177 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Labcorp by 52.2% in the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock worth $82,353,000 after buying an additional 121,304 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Labcorp in the second quarter worth about $5,873,000. Finally, First Trust Advisors LP boosted its stake in shares of Labcorp by 83.2% in the second quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock valued at $22,588,000 after purchasing an additional 39,087 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Evercore reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a report on Wednesday, April 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Robert W. Baird set a $334.00 target price on shares of Labcorp in a research note on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Labcorp has a consensus rating of “Moderate Buy” and a consensus price target of $308.00.

Labcorp Stock Performance

Shares of LH opened at $250.30 on Monday. The firm’s 50 day moving average is $265.33 and its 200-day moving average is $265.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. The stock has a market capitalization of $20.52 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.75 and a beta of 0.91. Labcorp Holdings Inc. has a 12-month low of $239.75 and a 12-month high of $293.72.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.09 by $0.16. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business’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 company earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities research analysts anticipate that Labcorp Holdings Inc. will post 17.99 EPS 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 given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. Labcorp’s dividend payout ratio (DPR) is 25.51%.

Insider Transactions at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 548 shares of Labcorp stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $284.91, for a total value 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. This trade represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian J. Caveney sold 1,500 shares of Labcorp stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 30,107 shares in the company, valued at approximately $8,619,935.17. This trade represents a 4.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,656 shares of company stock valued at $4,524,961 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.

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.