Public Employees Retirement System of Ohio Purchases Shares of 27,828 Labcorp Holdings Inc. $LH

Public Employees Retirement System of Ohio acquired a new stake in Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 27,828 shares of the medical research company’s stock, valued at approximately $7,792,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Fifth Third Bancorp lifted its stake in Labcorp by 106.5% during the 1st quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company’s stock valued at $15,470,000 after acquiring an additional 29,899 shares during the period. Geode Capital Management LLC boosted its stake in shares of Labcorp by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock worth $534,023,000 after acquiring an additional 13,775 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Labcorp by 61.3% in the fourth quarter. CIBC Asset Management Inc now owns 19,974 shares of the medical research company’s stock valued at $5,011,000 after purchasing an additional 7,592 shares during the period. Victory Capital Management Inc. grew its stake in Labcorp by 103.1% in the 4th 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 during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Labcorp by 5.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,338 shares of the medical research company’s stock worth $44,629,000 after purchasing an additional 8,748 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $306.00 price objective on shares of Labcorp in a research note on Friday, July 31st. Mizuho set a $355.00 price target on shares of Labcorp in a research report on Monday, August 10th. Piper Sandler boosted their price objective on shares of Labcorp from $300.00 to $309.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. upped 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, Bank of America raised their price target on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Labcorp presently has an average rating of “Moderate Buy” and an average target price of $330.00.

Labcorp Stock Performance

NYSE:LH opened at $327.36 on Wednesday. The firm has a market capitalization of $26.55 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 1.92 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. The business’s fifty day moving average price is $303.16 and its 200 day moving average price is $279.57. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $341.80.

Labcorp (NYSE:LH) last released its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.21. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the firm posted $4.35 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, sell-side analysts anticipate that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Labcorp Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Amy B. Summy sold 924 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president owned 6,956 shares in the company, valued at approximately $2,133,683.44. This represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adam H. Schechter sold 4,669 shares of Labcorp stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the sale, the chief executive officer owned 102,565 shares in the company, valued at $32,858,749.05. This represents a 4.35% 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. In the last 90 days, insiders have sold 9,681 shares of company stock worth $3,027,677. 0.84% of the stock is currently 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.