Labcorp Holdings Inc. $LH Shares Purchased by Carmel Capital Partners LLC

Carmel Capital Partners LLC raised its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 32.9% in the first quarter, Holdings Channel.com reports. The fund owned 11,493 shares of the medical research company’s stock after buying an additional 2,845 shares during the quarter. Labcorp comprises approximately 1.1% of Carmel Capital Partners LLC’s holdings, making the stock its 25th largest position. Carmel Capital Partners LLC’s holdings in Labcorp were worth $3,066,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Labcorp

In other Labcorp news, EVP Kathryn W. Kyle sold 92 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $26,329.48. Following the transaction, the executive vice president directly owned 3,904 shares in the company, valued at $1,117,285.76. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Bryan T. Vaughn sold 234 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $66,968.46. Following the transaction, the executive vice president directly owned 6,746 shares of the company’s stock, valued at approximately $1,930,637.74. This represents a 3.35% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Robert W. Baird set a $334.00 target price on shares of Labcorp in a research note on Friday, May 1st. Wall Street Zen lowered shares of Labcorp from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Evercore reiterated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.33.

Labcorp Stock Down 0.3%

Shares of NYSE LH opened at $276.81 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. Labcorp Holdings Inc. has a 1 year low of $241.81 and a 1 year high of $293.72. The stock’s 50-day simple moving average is $264.07 and its 200-day simple moving average is $267.08. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 1.94 and a beta of 0.89.

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

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is presently 25.51%.

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.