Westpac Banking Corp Has $2.57 Million Position in Labcorp Holdings Inc. $LH

Westpac Banking Corp reduced its holdings in Labcorp Holdings Inc. (NYSE:LH) by 40.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,237 shares of the medical research company’s stock after selling 7,069 shares during the quarter. Westpac Banking Corp’s holdings in Labcorp were worth $2,568,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. UBS Group AG lifted its holdings in Labcorp by 2.2% in the fourth quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock valued at $124,320,000 after buying an additional 10,706 shares during the period. Dakota Wealth Management lifted its holdings in Labcorp by 98.6% in the third quarter. Dakota Wealth Management now owns 10,303 shares of the medical research company’s stock valued at $2,958,000 after buying an additional 5,116 shares during the period. Cinctive Capital Management LP acquired a new position in Labcorp in the third quarter valued at approximately $3,297,000. 8 Knots Management LLC lifted its holdings in Labcorp by 96.6% in the third quarter. 8 Knots Management LLC now owns 204,859 shares of the medical research company’s stock valued at $58,807,000 after buying an additional 100,675 shares during the period. Finally, Persistent Asset Partners Ltd lifted its holdings in Labcorp by 90.0% in the third quarter. Persistent Asset Partners Ltd now owns 8,994 shares of the medical research company’s stock valued at $2,582,000 after buying an additional 4,260 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Stock Performance

Shares of LH opened at $259.46 on Thursday. The firm has a 50-day moving average of $262.86 and a 200-day moving average of $265.66. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72. The company has a market cap of $21.28 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.81 and a beta of 0.90. 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 (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 analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the company posted $3.84 EPS. 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, equities analysts forecast that Labcorp Holdings Inc. will post 17.99 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be given a $0.72 dividend. 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%.

Insider Activity

In related news, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the topic of several analyst reports. Robert W. Baird set a $334.00 target price on shares of Labcorp in a report on Friday, May 1st. Piper Sandler increased their target price on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.00.

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.