Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 8,750 Shares of Labcorp Holdings Inc. $LH

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Labcorp Holdings Inc. (NYSE:LH) by 56.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 24,297 shares of the medical research company’s stock after purchasing an additional 8,750 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Labcorp were worth $6,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of LH. Elevation Point Wealth Partners LLC raised its holdings in Labcorp by 145.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,673 shares of the medical research company’s stock valued at $713,000 after acquiring an additional 1,583 shares during the period. Vision Capital Management Inc. purchased a new position in shares of Labcorp during the first quarter worth about $200,000. Root Financial Partners LLC raised its stake in Labcorp by 31.9% in the first quarter. Root Financial Partners LLC now owns 343 shares of the medical research company’s stock valued at $92,000 after purchasing an additional 83 shares in the last quarter. Fulton Bank N.A. grew its stake in Labcorp by 2.1% in the 1st quarter. Fulton Bank N.A. now owns 2,484 shares of the medical research company’s stock worth $663,000 after buying an additional 52 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Labcorp by 3.9% during the 1st quarter. IFM Investors Pty Ltd now owns 17,374 shares of the medical research company’s stock valued at $4,636,000 after buying an additional 660 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut Labcorp from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Robert W. Baird set a $334.00 price objective on Labcorp in a research report on Friday, May 1st. Finally, Evercore reissued an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a report 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 stock has an average rating of “Moderate Buy” and a consensus price target of $308.00.

Insider Buying and Selling at Labcorp

In related news, EVP Kathryn W. Kyle sold 762 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $263.89, for a total value of $201,084.18. Following the sale, the executive vice president 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $1,502,313.50. Following the completion of the transaction, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.84% of the stock is owned by insiders.

Labcorp Stock Performance

Shares of Labcorp stock opened at $286.69 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $262.24 and a two-hundred day simple moving average of $266.27. Labcorp Holdings Inc. has a 12 month low of $241.81 and a 12 month high of $293.72. The firm has a market capitalization of $23.51 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.01 and a beta of 0.89.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, beating 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 quarter last year, the company earned $3.84 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, equities analysts forecast that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Announces Dividend

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

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.