Madison Asset Management LLC Cuts Stock Position in Labcorp Holdings Inc. $LH

Madison Asset Management LLC cut its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 5.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 525,878 shares of the medical research company’s stock after selling 30,244 shares during the period. Labcorp accounts for approximately 1.5% of Madison Asset Management LLC’s portfolio, making the stock its 14th largest position. Madison Asset Management LLC’s holdings in Labcorp were worth $131,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Labcorp during the 4th quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new position in Labcorp in the 3rd quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new position in Labcorp in the 4th quarter worth approximately $29,000. Beacon Financial Strategies CORP purchased a new stake in Labcorp during the 4th quarter valued at approximately $33,000. Finally, Headlands Technologies LLC raised its position in shares of Labcorp by 300.0% during the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after buying an additional 96 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Labcorp

In related news, EVP Brian J. Caveney sold 1,500 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total value of $429,465.00. Following the completion of the transaction, the executive vice president owned 30,107 shares of the company’s stock, valued at approximately $8,619,935.17. This trade represents a 4.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 8,705 shares of Labcorp stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $279.96, for a total value of $2,437,051.80. Following the completion of the transaction, the chief executive officer owned 80,773 shares of the company’s stock, valued at approximately $22,613,209.08. This represents a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,840 shares of company stock worth $3,047,914 in the last 90 days. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LH. Piper Sandler boosted 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. Evercore reiterated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. 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 report on Wednesday, February 18th. Finally, Robert W. Baird set a $334.00 price objective on Labcorp in a research report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.00.

Labcorp Stock Up 0.8%

NYSE LH opened at $257.13 on Wednesday. The stock has a 50 day moving average price of $267.17 and a 200-day moving average price of $266.12. Labcorp Holdings Inc. has a one year low of $239.67 and a one year high of $293.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. The company has a market capitalization of $21.08 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.79 and a beta of 0.91.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, topping 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 company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the business posted $3.84 earnings per share. Labcorp’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. As a group, equities analysts predict that Labcorp Holdings Inc. will post 17.99 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

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.