Labcorp Holdings Inc. $LH Shares Purchased by Assetmark Inc.

Assetmark Inc. lifted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,792 shares of the medical research company’s stock after buying an additional 6,419 shares during the period. Assetmark Inc.’s holdings in Labcorp were worth $20,756,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LH. REAP Financial Group LLC increased its stake in Labcorp by 20.4% during the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock worth $55,000 after acquiring an additional 37 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in Labcorp by 1.7% in the first quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company’s stock valued at $645,000 after buying an additional 40 shares during the period. Hilltop Holdings Inc. raised its holdings in 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 buying an additional 41 shares during the period. Pinnacle Associates Ltd. lifted its position in 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 increased its position in shares of Labcorp by 37.5% in the third quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock worth $44,000 after acquiring an additional 42 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on LH. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Bank of America raised their target price on Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a report on Monday, July 13th. Evercore restated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Finally, Robert W. Baird upped their target price on shares of Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.40.

Labcorp Price Performance

LH opened at $283.63 on Friday. The company has a market capitalization of $23.26 billion, a P/E ratio of 25.12, a PEG ratio of 1.88 and a beta of 0.89. The company has a 50-day moving average of $266.22 and a 200-day moving average of $267.91. 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.

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. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. 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 previous year, the company posted $3.84 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

Insider Activity

In other news, EVP Kathryn W. Kyle sold 92 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 $26,329.48. Following the completion of the sale, the executive vice president directly owned 3,904 shares of the company’s stock, valued at $1,117,285.76. This trade 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, 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 transaction of $1,502,313.50. Following the completion of the transaction, the chief executive officer owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. The trade was 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. Insiders sold a total of 6,991 shares of company stock worth $1,796,696 over the last 90 days. 0.84% of the stock is currently owned by company 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.