Allspring Global Investments Holdings LLC Has $554.73 Million Stock Holdings in Labcorp Holdings Inc. $LH

Allspring Global Investments Holdings LLC boosted its holdings in Labcorp Holdings Inc. (NYSE:LH) by 10.4% during the fourth quarter, Holdings Channel reports. The fund owned 2,204,276 shares of the medical research company’s stock after purchasing an additional 207,962 shares during the period. Labcorp makes up 0.9% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 9th largest holding. Allspring Global Investments Holdings LLC’s holdings in Labcorp were worth $554,728,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Labcorp during the 4th quarter worth about $991,000. Integrated Wealth Concepts LLC lifted its position in Labcorp by 7.9% during the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock worth $565,000 after acquiring an additional 177 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Labcorp by 52.2% during the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock worth $82,353,000 after acquiring an additional 121,304 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Labcorp by 19.4% during the second quarter. Advisors Asset Management Inc. now owns 4,734 shares of the medical research company’s stock worth $1,243,000 after acquiring an additional 770 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Labcorp by 10.1% during the second quarter. J.W. Cole Advisors Inc. now owns 1,355 shares of the medical research company’s stock worth $356,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling

In other Labcorp news, EVP Jonathan C. Meltzer sold 87 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $290.42, for a total value of $25,266.54. Following the transaction, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $284.91, for a total transaction of $156,130.68. Following the completion of the transaction, the executive vice president owned 2,579 shares of the company’s stock, valued at $734,782.89. The trade was a 17.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,113 shares of company stock worth $4,547,450 in the last ninety days. 0.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Robert W. Baird boosted their price target on Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings raised Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Finally, Piper Sandler boosted their target price 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. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.82.

Labcorp Stock Down 0.2%

NYSE LH opened at $263.71 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60. The company has a market cap of $21.73 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.80 and a beta of 1.01. The company has a 50 day moving average of $274.05 and a 200-day moving average of $269.02. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the business posted $3.45 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. On average, equities research analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 27th were given a $0.72 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is presently 27.53%.

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.