Labcorp Holdings Inc. $LH Stake Boosted by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 106.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,981 shares of the medical research company’s stock after buying an additional 29,899 shares during the period. Fifth Third Bancorp owned about 0.07% of Labcorp worth $15,470,000 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. Vanguard Group Inc. raised its holdings in shares of Labcorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock valued at $2,471,326,000 after acquiring an additional 37,197 shares during the period. Victory Capital Management Inc. grew its position in Labcorp by 103.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after purchasing an additional 2,719,475 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Labcorp by 10.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company’s stock worth $554,728,000 after purchasing an additional 207,962 shares in the last quarter. Geode Capital Management LLC raised its stake in Labcorp by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after purchasing an additional 13,775 shares during the period. Finally, Wellington Management Group LLP raised its stake in Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after purchasing an additional 289,029 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Bryan T. Vaughn sold 234 shares of Labcorp stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the sale, the executive vice president owned 6,746 shares of the company’s stock, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Kathryn W. Kyle sold 762 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president directly owned 3,813 shares in the company, valued at $1,006,212.57. The trade was a 16.66% 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. In the last 90 days, insiders have sold 6,991 shares of company stock worth $1,796,696. 0.84% of the stock is owned by corporate insiders.

Labcorp Stock Down 0.2%

LH opened at $276.06 on Wednesday. The company has a market capitalization of $22.64 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.94 and a beta of 0.89. 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 Holdings Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $293.72. The business has a 50-day moving average of $264.84 and a 200-day moving average of $267.48.

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

Labcorp Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently commented on LH. Bank of America raised their target price on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Evercore restated an “outperform” rating and set a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. Robert W. Baird lifted their target price on Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Labcorp has a consensus rating of “Moderate Buy” and a consensus target price of $314.40.

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.