Easterly Investment Partners LLC Buys Shares of 30,268 Labcorp Holdings Inc. $LH

Easterly Investment Partners LLC purchased a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 30,268 shares of the medical research company’s stock, valued at approximately $7,594,000.

Other institutional investors have also made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of Labcorp during the 3rd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Labcorp during the 4th quarter valued at about $26,000. Eagle Bay Advisors LLC acquired a new stake in shares of Labcorp during the 4th quarter valued at about $29,000. Hantz Financial Services Inc. lifted its holdings in shares of Labcorp by 48.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock valued at $35,000 after buying an additional 40 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of Labcorp by 300.0% during the 2nd quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after buying an additional 96 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Labcorp

In other news, CEO Adam H. Schechter sold 8,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $279.96, for a total transaction of $2,437,051.80. Following the completion of the transaction, the chief executive officer directly owned 80,773 shares in the company, valued at $22,613,209.08. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LH. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Evercore reiterated an “outperform” rating and set a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Piper Sandler lifted their price target on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Robert W. Baird set a $334.00 target price on Labcorp in a report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Labcorp currently has an average rating of “Moderate Buy” and a consensus target price of $308.00.

Labcorp Stock Up 0.1%

Shares of LH stock opened at $260.21 on Monday. Labcorp Holdings Inc. has a 12 month low of $241.81 and a 12 month high of $293.72. The firm has a market cap of $21.34 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90. The stock has a 50 day moving average of $263.22 and a 200-day moving average of $265.87. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68.

Labcorp (NYSE:LH) last issued its quarterly earnings results 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 return on equity of 16.29% and a net margin of 6.66%.The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the company earned $3.84 earnings per share. The company’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. On average, equities analysts predict that Labcorp Holdings Inc. will post 17.99 EPS for the current year.

Labcorp Announces Dividend

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