Allspring Global Investments Holdings LLC Raises Position in Labcorp Holdings Inc. $LH

Allspring Global Investments Holdings LLC lifted its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 1.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,226,446 shares of the medical research company’s stock after buying an additional 22,170 shares during the period. Labcorp comprises about 1.0% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 8th biggest holding. Allspring Global Investments Holdings LLC owned about 2.71% of Labcorp worth $607,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Victory Capital Management Inc. raised its stake 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 worth $1,343,922,000 after acquiring an additional 2,719,475 shares in the last quarter. Boston Partners bought a new position in Labcorp in the 4th quarter valued at approximately $480,271,000. Norges Bank bought a new position in Labcorp in the 4th quarter valued at approximately $248,006,000. Wellington Management Group LLP boosted its position in Labcorp by 15.9% in the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after buying an additional 289,029 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Labcorp by 79.1% in the third quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock valued at $178,996,000 after buying an additional 275,454 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, EVP Kathryn W. Kyle sold 762 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the transaction, the executive vice president directly owned 3,813 shares of the company’s stock, valued at $1,006,212.57. The trade was a 16.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 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 value of $66,968.46. Following the sale, the executive vice president owned 6,746 shares in the company, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 ninety days. 0.84% of the stock is owned by company insiders.

Labcorp Stock Up 3.7%

Shares of NYSE LH opened at $282.06 on Friday. The company’s 50 day moving average price is $265.63 and its 200-day moving average price is $267.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. Labcorp Holdings Inc. has a 52-week low of $241.81 and a 52-week high of $293.72. The company has a market capitalization of $23.13 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 1.81 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, topping the consensus estimate of $4.09 by $0.16. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. Labcorp’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities analysts forecast that Labcorp Holdings Inc. will post 18 earnings per share for the current year.

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is 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.