Havemeyer Place LP Buys New Stake in Labcorp Holdings Inc. $LH

Havemeyer Place LP bought a new stake in Labcorp Holdings Inc. (NYSE:LH) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 8,678 shares of the medical research company’s stock, valued at approximately $2,177,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Labcorp in the 4th quarter worth $248,006,000. Victory Capital Management Inc. grew its position in Labcorp by 20.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock worth $756,878,000 after purchasing an additional 440,224 shares during the last quarter. Wellington Management Group LLP grew its position in Labcorp by 15.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after purchasing an additional 289,029 shares during the last quarter. Marshall Wace LLP grew its position in Labcorp by 79.1% in the 3rd quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock worth $178,996,000 after purchasing an additional 275,454 shares during the last quarter. Finally, Mondrian Investment Partners LTD acquired a new stake in Labcorp in the 3rd quarter worth $75,208,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were 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 of the company’s stock, valued at approximately $27,291,053. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

LH has been the topic of several research analyst reports. Evercore restated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Piper Sandler raised their price target on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. JPMorgan Chase & Co. raised their price objective 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, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $308.00.

Labcorp Trading Up 1.8%

Shares of LH stock opened at $265.80 on Friday. Labcorp Holdings Inc. has a 12-month low of $241.81 and a 12-month high of $293.72. The company has a market capitalization of $21.80 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.86 and a beta of 0.90. The firm has a 50-day moving average price of $262.75 and a 200 day moving average price of $265.62. 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 announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the firm posted $3.84 EPS. The firm’s quarterly 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 forecast that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be paid a $0.72 dividend. The ex-dividend date of this dividend 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 currently 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.