Madison Asset Management LLC Makes New Investment in Labcorp Holdings Inc. $LH

Madison Asset Management LLC purchased a new stake in Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 476,643 shares of the medical research company’s stock, valued at approximately $133,460,000. Labcorp accounts for 1.6% of Madison Asset Management LLC’s holdings, making the stock its 13th largest position. Madison Asset Management LLC owned approximately 0.59% of Labcorp at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Labcorp in the fourth quarter worth about $991,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Labcorp by 7.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Labcorp by 52.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after purchasing an additional 121,304 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Labcorp in the 2nd quarter valued at approximately $5,873,000. Finally, First Trust Advisors LP increased its stake in Labcorp by 83.2% during the 2nd quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock worth $22,588,000 after purchasing an additional 39,087 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling at Labcorp

In other news, EVP Amy B. Summy sold 924 shares of Labcorp stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total value of $283,427.76. Following the completion of the transaction, the executive vice president owned 6,956 shares of the company’s stock, valued at $2,133,683.44. This trade represents a 11.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam H. Schechter sold 4,669 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the transaction, the chief executive officer owned 102,565 shares in the company, valued at $32,858,749.05. This represents a 4.35% 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 9,681 shares of company stock valued at $3,027,677 in the last 90 days. Company insiders own 0.84% of the company’s stock.

Labcorp Stock Performance

Shares of NYSE LH opened at $330.77 on Thursday. The stock has a 50 day moving average price of $289.75 and a 200 day moving average price of $275.91. Labcorp Holdings Inc. has a 52 week low of $244.52 and a 52 week high of $331.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80. The stock has a market capitalization of $26.83 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.21. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the company earned $4.35 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Analysts predict that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 28th. Labcorp’s payout ratio is presently 23.82%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $306.00 price target on shares of Labcorp in a research note on Friday, July 31st. Robert W. Baird set a $352.00 price objective on shares of Labcorp in a research report on Friday, July 31st. Bank of America boosted their price objective on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Morgan Stanley upped their target price on shares of Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Labcorp has a consensus rating of “Moderate Buy” and a consensus price target of $330.00.

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.