Allstate Corp Boosts Stock Position in Labcorp Holdings Inc. $LH

Allstate Corp lifted its position in Labcorp Holdings Inc. (NYSE:LH) by 78.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,500 shares of the medical research company’s stock after purchasing an additional 2,863 shares during the quarter. Allstate Corp’s holdings in Labcorp were worth $1,631,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Labcorp in the 4th quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in shares of Labcorp in the 3rd quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new position in shares of Labcorp in the 4th quarter worth approximately $29,000. Beacon Financial Strategies CORP purchased a new position in shares of Labcorp in the 4th quarter valued at approximately $33,000. Finally, Headlands Technologies LLC lifted its stake in shares of Labcorp by 300.0% in the 2nd quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $27,291,053. The trade was a 5.22% decrease in their ownership of the stock. The sale 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. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LH. Robert W. Baird set a $334.00 price target on Labcorp in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Piper Sandler raised their price objective on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Labcorp presently has an average rating of “Moderate Buy” and a consensus target price of $308.00.

Labcorp Stock Performance

Shares of LH opened at $262.96 on Friday. 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 one year low of $241.81 and a one year high of $293.72. The firm has a market capitalization of $21.56 billion, a P/E ratio of 23.29, a PEG ratio of 1.81 and a beta of 0.91. The business has a fifty day moving average of $263.33 and a 200 day moving average of $265.88.

Labcorp (NYSE:LH) last released its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the business earned $3.84 earnings per share. Labcorp’s quarterly revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, sell-side analysts anticipate that Labcorp Holdings Inc. will post 17.99 EPS for the current year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 29th. Labcorp’s payout ratio 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.