Cannell & Spears LLC Sells 7,025 Shares of Labcorp Holdings Inc. $LH

Cannell & Spears LLC reduced its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 151,537 shares of the medical research company’s stock after selling 7,025 shares during the quarter. Cannell & Spears LLC owned about 0.18% of Labcorp worth $40,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. REAP Financial Group LLC boosted its stake in shares of Labcorp by 20.4% in the 4th quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 37 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Labcorp by 1.7% during the first quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company’s stock worth $645,000 after buying an additional 40 shares during the last quarter. Hilltop Holdings Inc. raised its stake in shares of Labcorp by 2.6% during the fourth quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock worth $409,000 after buying an additional 41 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Labcorp by 3.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after buying an additional 42 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Labcorp by 37.5% in the third quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after buying an additional 42 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LH. Evercore reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Robert W. Baird increased their price target on Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Bank of America raised their price target on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $315.33.

Insider Activity

In related news, EVP Kathryn W. Kyle sold 762 shares of the business’s stock in a transaction 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 directly owned 3,813 shares of the company’s stock, valued at approximately $1,006,212.57. The trade was a 16.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $254.50, for a total transaction 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. 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. Insiders sold 6,991 shares of company stock worth $1,796,696 over the last quarter. 0.84% of the stock is currently owned by company insiders.

Labcorp Trading Up 2.0%

NYSE LH opened at $296.71 on Friday. Labcorp Holdings Inc. has a one year low of $244.52 and a one year high of $298.58. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. The firm has a market cap of $24.33 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.93 and a beta of 0.89. The stock’s 50-day moving average is $269.38 and its 200-day moving average is $269.09.

Labcorp (NYSE:LH) last issued its quarterly earnings data 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 return on equity of 16.29% and a net margin of 6.66%.The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the firm earned $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. Sell-side analysts anticipate that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Announces Dividend

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