Andra AP fonden Purchases 20,182 Shares of Labcorp Holdings Inc. $LH

Andra AP fonden increased its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 58.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 54,662 shares of the medical research company’s stock after buying an additional 20,182 shares during the quarter. Andra AP fonden’s holdings in Labcorp were worth $14,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Labcorp by 103.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after acquiring an additional 2,719,475 shares during the period. Boston Partners bought a new position in shares of Labcorp in the fourth quarter worth about $480,271,000. Norges Bank acquired a new position in shares of Labcorp during the 4th quarter worth about $248,006,000. Wellington Management Group LLP boosted 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. Finally, Marshall Wace LLP boosted its stake in Labcorp by 79.1% during the 3rd quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock valued at $178,996,000 after purchasing an additional 275,454 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Trading Down 0.8%

Labcorp stock opened at $279.10 on Wednesday. The business has a 50 day moving average price of $267.17 and a two-hundred day moving average price of $268.41. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The stock has a market cap of $22.89 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 1.87 and a beta of 0.89. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $293.72.

Labcorp (NYSE:LH) last announced 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 return on equity of 16.29% and a net margin of 6.66%.Labcorp’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities analysts forecast that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 dividend on an annualized basis and a yield of 1.0%. Labcorp’s payout ratio is currently 25.51%.

Analyst Ratings Changes

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

Insider Buying and Selling at Labcorp

In other news, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction dated 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 sale, the chief executive officer directly owned 107,234 shares in the company, valued at approximately $27,291,053. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 92 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were 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 in the company, valued at approximately $1,117,285.76. The trade was a 2.30% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 6,991 shares of company stock valued at $1,796,696 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

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.