Citigroup Inc. Cuts Stock Holdings in Labcorp Holdings Inc. $LH

Citigroup Inc. trimmed its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 31.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,828 shares of the medical research company’s stock after selling 29,736 shares during the quarter. Citigroup Inc.’s holdings in Labcorp were worth $18,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caldwell Trust Co purchased a new stake in shares of Labcorp during the second quarter worth about $25,000. Financial Gravity Companies Inc. purchased a new stake in Labcorp in the 2nd quarter worth approximately $26,000. Motco purchased a new stake in Labcorp in the 3rd quarter worth approximately $32,000. Hantz Financial Services Inc. grew its position in shares of Labcorp by 48.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock worth $35,000 after buying an additional 40 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in shares of Labcorp by 300.0% during the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after buying an additional 96 shares during the period. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Labcorp

In other news, EVP Brian J. Caveney sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total transaction of $429,465.00. Following the sale, the executive vice president owned 30,107 shares in the company, valued at $8,619,935.17. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan C. Meltzer sold 87 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $290.42, for a total transaction of $25,266.54. Following the sale, the executive vice president directly owned 2,782 shares of the company’s stock, valued at $807,948.44. This trade represents a 3.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,860 shares of company stock worth $1,954,267. 0.84% of the stock is owned by corporate insiders.

Labcorp Stock Performance

Shares of LH opened at $287.48 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. The stock has a market cap of $23.83 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.93 and a beta of 1.03. The business’s 50 day moving average price is $267.77 and its 200-day moving average price is $269.86. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Tuesday, February 17th. The medical research company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.12. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the company earned $3.45 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Labcorp’s dividend payout ratio is 27.53%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Piper Sandler lifted their price target on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Robert W. Baird boosted their price target on shares of Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Finally, Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $304.42.

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.