Storgate LLC Takes $680,000 Position in Labcorp Holdings Inc. $LH

Storgate LLC acquired a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,710 shares of the medical research company’s stock, valued at approximately $680,000.

A number of other hedge funds also recently modified their holdings of LH. Brighton Jones LLC purchased a new stake in shares of Labcorp in the fourth quarter valued at $991,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Labcorp by 7.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 valued at $82,353,000 after purchasing an additional 121,304 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Labcorp in the second quarter valued at $5,873,000. Finally, First Trust Advisors LP lifted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In other Labcorp news, EVP Kathryn W. Kyle sold 762 shares of Labcorp stock in a transaction that occurred on Monday, June 8th. The stock was 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 of the company’s stock, valued at approximately $1,006,212.57. The trade was a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 107,234 shares in the company, valued at $27,291,053. The trade was a 5.22% 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. 0.84% of the stock is currently owned by insiders.

Labcorp Trading Up 0.1%

Shares of NYSE:LH opened at $265.45 on Friday. The company has a market cap of $21.77 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.86 and a beta of 0.90. The stock’s 50-day moving average is $262.65 and its 200-day moving average is $265.77. Labcorp Holdings Inc. has a 52-week low of $241.81 and a 52-week high of $293.72. 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 issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating 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 period last year, the business posted $3.84 earnings per share. The firm’s 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 predict that Labcorp Holdings Inc. will post 18 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is 25.51%.

Analysts Set New Price Targets

LH has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research report on Friday, May 1st. Evercore reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. Finally, Piper Sandler raised their price objective on shares of 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 has a consensus rating of “Moderate Buy” and an average target price of $308.00.

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.