Labcorp Holdings Inc. $LH Shares Bought by Swiss National Bank

Swiss National Bank raised its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 6.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 243,260 shares of the medical research company’s stock after buying an additional 15,240 shares during the period. Swiss National Bank owned about 0.30% of Labcorp worth $64,904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. raised its position in Labcorp by 103.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after acquiring an additional 2,719,475 shares in the last quarter. Boston Partners purchased a new stake in Labcorp in the 4th quarter worth approximately $480,271,000. Norges Bank acquired a new stake in shares of Labcorp during the 4th quarter worth approximately $248,006,000. Wellington Management Group LLP grew its stake in shares of Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after purchasing an additional 289,029 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Labcorp by 79.1% during the 3rd quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock valued at $178,996,000 after purchasing an additional 275,454 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Labcorp

In other news, 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 value of $201,084.18. Following the transaction, the executive vice president directly owned 3,813 shares of the company’s stock, valued at approximately $1,006,212.57. This trade represents a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $66,968.46. Following the transaction, the executive vice president owned 6,746 shares in the company, valued at $1,930,637.74. The trade was a 3.35% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 6,991 shares of company stock worth $1,796,696. Corporate insiders own 0.84% of the company’s stock.

Labcorp Trading Down 0.8%

LH stock opened at $279.10 on Wednesday. Labcorp Holdings Inc. has a 12-month low of $244.52 and a 12-month high of $293.72. The business’s 50-day moving average is $267.17 and its 200 day moving average is $268.41. 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 has a market cap of $22.89 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 1.87 and a beta of 0.89.

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

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a $0.72 dividend. The ex-dividend date is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is presently 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.