Goldman Sachs Group Inc. Grows Position in Labcorp Holdings Inc. $LH

Goldman Sachs Group Inc. lifted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 41.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 595,463 shares of the medical research company’s stock after purchasing an additional 173,315 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Labcorp were worth $149,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Labcorp by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock valued at $2,471,326,000 after buying an additional 37,197 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Labcorp by 20.0% during the third quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock valued at $756,878,000 after acquiring an additional 440,224 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Labcorp by 10.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company’s stock valued at $554,728,000 after acquiring an additional 207,962 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Labcorp by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock worth $534,023,000 after purchasing an additional 13,775 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake 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 in the last quarter. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Piper Sandler upped their target price on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Robert W. Baird set a $334.00 price target on shares of Labcorp in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Finally, Evercore restated an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $308.00.

Labcorp Trading Up 0.2%

Labcorp stock opened at $265.80 on Monday. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72. The business’s fifty day moving average is $262.75 and its 200 day moving average is $265.65. The stock has a market capitalization of $21.80 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.86 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 issued its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.09 by $0.16. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.Labcorp’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, sell-side analysts predict that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio is 25.51%.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 5,903 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 107,234 shares in the company, valued at approximately $27,291,053. This trade represents a 5.22% 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. 0.84% of the stock is currently owned by company insiders.

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.