Janney Montgomery Scott LLC Buys 2,070 Shares of Labcorp Holdings Inc. $LH

Janney Montgomery Scott LLC lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 6.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,888 shares of the medical research company’s stock after buying an additional 2,070 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Labcorp were worth $9,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Labcorp in the fourth quarter worth about $26,000. Hilton Head Capital Partners LLC purchased a new position in shares of Labcorp during the 4th quarter worth approximately $27,000. JPL Wealth Management LLC purchased a new position in shares of Labcorp during the 3rd quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new position in shares of Labcorp in the 4th quarter worth approximately $29,000. Finally, DV Equities LLC bought a new position in shares of Labcorp in the 4th quarter worth approximately $29,000. 95.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on LH. Wall Street Zen lowered Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Robert W. Baird set a $334.00 price objective on Labcorp in a report on Friday, May 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $308.00.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $254.50, for a total value of $1,502,313.50. Following the transaction, the chief executive officer owned 107,234 shares in the company, valued at $27,291,053. The trade was a 5.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the 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 sale, the executive vice president directly owned 3,813 shares in the company, valued at $1,006,212.57. This trade represents a 16.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.84% of the company’s stock.

Labcorp Price Performance

LH stock opened at $286.69 on Friday. The firm has a 50 day moving average price of $261.96 and a 200-day moving average price of $266.10. Labcorp Holdings Inc. has a 52-week low of $241.81 and a 52-week high of $293.72. The firm has a market capitalization of $23.51 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.99 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73.

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

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp’s payout ratio is 25.51%.

Labcorp 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.