Labcorp Holdings Inc. $LH Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lessened its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 3.0% during the 1st quarter, HoldingsChannel reports. The firm owned 173,482 shares of the medical research company’s stock after selling 5,280 shares during the period. Labcorp comprises approximately 3.0% of AMI Asset Management Corp’s holdings, making the stock its 12th biggest position. AMI Asset Management Corp’s holdings in Labcorp were worth $46,287,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in Labcorp in the 3rd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Labcorp during the 4th quarter worth approximately $26,000. Hilton Head Capital Partners LLC acquired a new position in shares of Labcorp during the 4th quarter worth approximately $27,000. Eagle Bay Advisors LLC purchased a new stake in shares of Labcorp in the fourth quarter valued at approximately $29,000. Finally, DV Equities LLC purchased a new stake in shares of Labcorp in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LH. Robert W. Baird set a $334.00 price target on shares of Labcorp in a research note on Friday, May 1st. Wall Street Zen lowered Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $308.00.

Insider Activity at Labcorp

In related news, EVP Kathryn W. Kyle sold 762 shares of Labcorp stock in a transaction on Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the completion of the transaction, the executive vice president directly owned 3,813 shares in the company, valued at approximately $1,006,212.57. This trade represents a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the transaction, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at $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. Company insiders own 0.84% of the company’s stock.

Labcorp Stock Up 3.0%

Shares of NYSE LH opened at $279.60 on Tuesday. 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 business’s 50 day moving average is $261.22 and its two-hundred day moving average is $265.68. Labcorp Holdings Inc. has a 52-week low of $241.81 and a 52-week high of $293.72. The firm has a market cap of $22.93 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.90 and a beta of 0.90.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the company earned $3.84 EPS. Labcorp’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. Research analysts predict that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

Labcorp Company 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.