Rockefeller Capital Management L.P. Sells 1,916 Shares of Labcorp Holdings Inc. $LH

Rockefeller Capital Management L.P. lowered its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,472 shares of the medical research company’s stock after selling 1,916 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Labcorp were worth $3,631,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Labcorp during the fourth quarter worth $26,000. Hilton Head Capital Partners LLC acquired a new stake in Labcorp in the 4th quarter valued at $27,000. JPL Wealth Management LLC acquired a new stake in Labcorp in the 3rd quarter valued at $28,000. Eagle Bay Advisors LLC bought a new stake in Labcorp during the 4th quarter worth about $29,000. Finally, DV Equities LLC bought a new stake in Labcorp during the 4th quarter worth about $29,000. 95.94% of the stock is owned by institutional investors.

Labcorp Stock Performance

Shares of LH stock opened at $272.09 on Friday. The company has a fifty day moving average price of $260.97 and a two-hundred day moving average price of $265.49. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72. The stock has a market cap of $22.31 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.90 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54.

Labcorp (NYSE:LH) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share 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 analyst estimates of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. Labcorp’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities analysts predict that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Announces Dividend

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

Insider Buying and Selling

In other Labcorp news, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the sale, the executive vice president owned 3,813 shares in the company, valued at $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the transaction, the chief executive officer owned 107,234 shares of the company’s stock, valued at $27,291,053. This represents 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 owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LH. Wall Street Zen cut Labcorp from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Evercore reiterated an “outperform” rating and set a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Finally, Robert W. Baird set a $334.00 price target on Labcorp in a research report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $308.00.

Labcorp Company 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.