Virtu Financial LLC Buys New Holdings in Labcorp Holdings Inc. $LH

Virtu Financial LLC purchased a new position in Labcorp Holdings Inc. (NYSE:LH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,686 shares of the medical research company’s stock, valued at approximately $1,677,000.

Other hedge funds have also recently modified their holdings of 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 purchasing an additional 37,197 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Labcorp by 10.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company’s stock worth $554,728,000 after purchasing an additional 207,962 shares during the last quarter. Geode Capital Management LLC raised its stake in Labcorp by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after purchasing an additional 13,775 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Labcorp by 15.9% during the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after purchasing an additional 289,029 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity

In related news, CEO Adam H. Schechter sold 5,903 shares of the business’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 completion of the transaction, the chief executive officer owned 107,234 shares of the company’s stock, valued at $27,291,053. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing 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 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 in the company, valued at $1,006,212.57. This trade represents a 16.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Evercore restated an “outperform” rating and set a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Wall Street Zen lowered Labcorp from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Robert W. Baird set a $334.00 target price on shares of Labcorp in a report on Friday, May 1st. Finally, Piper Sandler lifted their price target 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. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $308.00.

Labcorp Price Performance

Shares of LH stock opened at $255.96 on Friday. 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 company has a market capitalization of $20.99 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.79 and a beta of 0.90. The company’s 50-day simple moving average is $261.33 and its two-hundred day simple moving average is $265.50. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72.

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, beating analysts’ consensus estimates 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 company posted $3.84 EPS. Labcorp’s 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 anticipate that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is 25.51%.

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.