Labcorp Holdings Inc. $LH Stake Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 33.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,502 shares of the medical research company’s stock after buying an additional 47,850 shares during the period. Hsbc Holdings PLC owned about 0.23% of Labcorp worth $47,608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. REAP Financial Group LLC boosted its stake in Labcorp by 20.4% in the 4th quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock worth $55,000 after purchasing an additional 37 shares during the period. Hilltop Holdings Inc. lifted its holdings in shares of Labcorp by 2.6% in the fourth quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock valued at $409,000 after purchasing an additional 41 shares in the last quarter. Advisor OS LLC boosted its position in shares of Labcorp by 5.4% in the third quarter. Advisor OS LLC now owns 821 shares of the medical research company’s stock worth $236,000 after buying an additional 42 shares during the period. Pinnacle Associates Ltd. grew its holdings in shares of Labcorp by 3.9% during the fourth quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after buying an additional 42 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Labcorp by 37.5% during the third quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after buying an additional 42 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the sale, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the sale, the executive vice president owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This trade represents a 16.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 1.7%

Shares of NYSE:LH opened at $258.80 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $21.22 billion, a PE ratio of 22.92, a P/E/G ratio of 1.78 and a beta of 0.90. Labcorp Holdings Inc. has a 1 year low of $241.81 and a 1 year high of $293.72. The firm has a fifty day moving average price of $260.89 and a 200 day moving average price of $265.35.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.09 by $0.16. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, May 29th. Labcorp’s payout ratio is 25.51%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LH shares. Wall Street Zen cut Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research report on Friday, May 1st. Piper Sandler upped their price objective on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Evercore reiterated an “outperform” rating and issued a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.