Ironvine Capital Partners LLC Sells 18,746 Shares of Labcorp Holdings Inc. $LH

Ironvine Capital Partners LLC decreased its position in Labcorp Holdings Inc. (NYSE:LH) by 22.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,549 shares of the medical research company’s stock after selling 18,746 shares during the period. Labcorp accounts for 1.6% of Ironvine Capital Partners LLC’s portfolio, making the stock its 22nd largest position. Ironvine Capital Partners LLC’s holdings in Labcorp were worth $16,445,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LH. UBS Group AG grew its position in shares of Labcorp by 2.2% during the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock worth $124,320,000 after buying an additional 10,706 shares during the period. Dakota Wealth Management increased its stake in shares of Labcorp by 98.6% in the 3rd quarter. Dakota Wealth Management now owns 10,303 shares of the medical research company’s stock valued at $2,958,000 after acquiring an additional 5,116 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in shares of Labcorp in the 3rd quarter valued at approximately $3,297,000. 8 Knots Management LLC boosted its stake in Labcorp by 96.6% during the 3rd quarter. 8 Knots Management LLC now owns 204,859 shares of the medical research company’s stock worth $58,807,000 after acquiring an additional 100,675 shares during the last quarter. Finally, Persistent Asset Partners Ltd grew its holdings in Labcorp by 90.0% during the third quarter. Persistent Asset Partners Ltd now owns 8,994 shares of the medical research company’s stock valued at $2,582,000 after purchasing an additional 4,260 shares during the period. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LH. Wall Street Zen downgraded shares of Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Morgan Stanley restated an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Piper Sandler raised their price objective on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Finally, Robert W. Baird set a $334.00 target price on Labcorp in a report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and an average price target of $308.00.

Labcorp Price Performance

Shares of LH opened at $265.45 on Friday. 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 stock has a 50 day simple moving average of $262.65 and a 200 day simple moving average of $265.77. Labcorp Holdings Inc. has a 52-week low of $241.81 and a 52-week high of $293.72. The firm has a market capitalization of $21.77 billion, a PE ratio of 23.51, a P/E/G ratio of 1.86 and a beta of 0.90.

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 predict that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Announces Dividend

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

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the sale, the chief executive officer directly owned 107,234 shares in the company, valued at $27,291,053. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the transaction, the executive vice president directly 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. 0.84% of the stock is currently owned by corporate insiders.

Labcorp 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.