Hsbc Holdings PLC Boosts Stock Position in Labcorp Holdings Inc. $LH

Hsbc Holdings PLC increased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,073 shares of the medical research company’s stock after buying an additional 11,571 shares during the period. Hsbc Holdings PLC owned about 0.24% of Labcorp worth $53,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Labcorp during the fourth quarter worth $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Labcorp in the fourth quarter valued at about $27,000. JPL Wealth Management LLC purchased a new stake in shares of Labcorp during the third quarter worth about $28,000. Eagle Bay Advisors LLC purchased a new stake in shares of Labcorp during the fourth quarter worth about $29,000. Finally, DV Equities LLC acquired a new position in shares of Labcorp during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Labcorp

In related news, EVP Bryan T. Vaughn sold 234 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was 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. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 92 shares of Labcorp stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $26,329.48. Following the transaction, the executive vice president owned 3,904 shares in the company, valued at approximately $1,117,285.76. The trade was a 2.30% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LH has been the topic of a number of research reports. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Evercore reiterated an “outperform” rating and set a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Bank of America increased their target price on Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a report on Monday, July 13th. Robert W. Baird raised their target price on Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and an average target price of $314.40.

Labcorp Stock Performance

NYSE:LH opened at $280.86 on Tuesday. The company has a market cap of $23.03 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.88 and a beta of 0.89. Labcorp Holdings Inc. has a twelve month low of $241.81 and a twelve month high of $293.72. The company’s 50-day moving average price is $266.74 and its 200-day moving average price is $268.21. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Labcorp (NYSE:LH) last announced 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. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. Labcorp’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, sell-side analysts forecast 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 given a $0.72 dividend. The ex-dividend date is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s dividend payout ratio is 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.