Labcorp Holdings Inc. $LH Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,017 shares of the medical research company’s stock after selling 2,244 shares during the period. Gabelli Funds LLC’s holdings in Labcorp were worth $8,276,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LH. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Labcorp in the fourth quarter worth $26,000. Hilton Head Capital Partners LLC purchased a new stake in Labcorp in the fourth quarter valued at $27,000. JPL Wealth Management LLC purchased a new stake in Labcorp in the third quarter valued at $28,000. Eagle Bay Advisors LLC acquired a new stake in Labcorp during the 4th quarter worth about $29,000. Finally, DV Equities LLC acquired a new stake in Labcorp during the 4th quarter worth about $29,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Labcorp

In related news, EVP Bryan T. Vaughn sold 234 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the sale, the executive vice president owned 6,746 shares of the company’s stock, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,991 shares of company stock valued at $1,796,696 in the last three months. 0.84% of the stock is currently owned by company insiders.

Labcorp Trading Down 0.0%

Shares of Labcorp stock opened at $296.71 on Monday. The firm has a 50-day simple moving average of $269.38 and a two-hundred day simple moving average of $269.21. 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 fifty-two week low of $244.52 and a fifty-two week high of $298.58. The company has a market cap of $24.33 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 1.97 and a beta of 0.89.

Labcorp (NYSE:LH) last released its quarterly 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 company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.Labcorp’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities analysts predict that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s dividend payout ratio is presently 25.51%.

Analyst Ratings Changes

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

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.