ABN Amro Investment Solutions Buys New Shares in Labcorp Holdings Inc. $LH

ABN Amro Investment Solutions bought a new stake in Labcorp Holdings Inc. (NYSE:LH) during the fourth quarter, HoldingsChannel reports. The fund bought 2,501 shares of the medical research company’s stock, valued at approximately $627,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in Labcorp by 37.0% in the fourth quarter. Larson Financial Group LLC now owns 211 shares of the medical research company’s stock valued at $53,000 after acquiring an additional 57 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Labcorp by 17.4% in the fourth quarter. Handelsbanken Fonder AB now owns 32,199 shares of the medical research company’s stock valued at $8,078,000 after acquiring an additional 4,780 shares during the last quarter. ProShare Advisors LLC increased its stake in Labcorp by 8.3% in the fourth quarter. ProShare Advisors LLC now owns 15,966 shares of the medical research company’s stock valued at $4,006,000 after acquiring an additional 1,227 shares during the last quarter. HighTower Advisors LLC increased its stake in Labcorp by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 64,181 shares of the medical research company’s stock valued at $16,102,000 after acquiring an additional 250 shares during the last quarter. Finally, North Dakota State Investment Board bought a new position in Labcorp in the fourth quarter valued at $719,000. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Up 0.2%

Shares of NYSE:LH opened at $260.37 on Monday. The stock’s 50-day moving average price is $263.79 and its 200-day moving average price is $265.61. Labcorp Holdings Inc. has a 12-month low of $239.75 and a 12-month high of $293.72. The stock has a market capitalization of $21.35 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.09 by $0.16. The company had revenue of $3.54 billion for 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%.Labcorp’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, equities analysts anticipate that Labcorp Holdings Inc. will post 17.99 earnings per share for the current year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is presently 25.51%.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Robert W. Baird set a $334.00 price objective on Labcorp in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Eight equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $308.00.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 5,903 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was 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 of the company’s stock, valued at $27,291,053. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $284.91, for a total value of $156,130.68. Following the completion of the sale, the executive vice president directly owned 2,579 shares in the company, 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 have sold 16,656 shares of company stock valued at $4,524,961 over the last ninety days. 0.84% of the stock is owned by insiders.

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.