Squarepoint Ops LLC lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH – Free Report) by 85.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 258,438 shares of the medical research company’s stock after purchasing an additional 119,373 shares during the period. Squarepoint Ops LLC owned 0.32% of Labcorp worth $72,363,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in LH. Baird Financial Group Inc. raised its stake in Labcorp by 144.8% in the 2nd quarter. Baird Financial Group Inc. now owns 10,085 shares of the medical research company’s stock valued at $2,824,000 after acquiring an additional 5,966 shares during the period. Arizona State Retirement System lifted its stake in shares of Labcorp by 4.9% during the 2nd quarter. Arizona State Retirement System now owns 23,625 shares of the medical research company’s stock worth $6,615,000 after buying an additional 1,096 shares during the last quarter. Waverly Advisors LLC boosted its holdings in shares of Labcorp by 3.0% during the 2nd quarter. Waverly Advisors LLC now owns 3,412 shares of the medical research company’s stock worth $955,000 after buying an additional 100 shares during the period. Empirical Finance LLC grew its stake in Labcorp by 3.2% in the 2nd quarter. Empirical Finance LLC now owns 3,141 shares of the medical research company’s stock valued at $879,000 after buying an additional 98 shares during the last quarter. Finally, Nykredit A S bought a new position in Labcorp in the 2nd quarter valued at about $6,660,000. Institutional investors and hedge funds own 95.94% of the company’s stock.
Labcorp Price Performance
Shares of LH stock opened at $324.95 on Wednesday. The business has a fifty day simple moving average of $308.74 and a 200 day simple moving average of $281.29. The company has a market cap of $26.35 billion, a P/E ratio of 26.88, a P/E/G ratio of 1.85 and a beta of 0.88. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69. Labcorp Holdings Inc. has a twelve month low of $244.52 and a twelve month high of $341.80.
Labcorp (NYSE:LH – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.21. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, sell-side analysts forecast that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.
Labcorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 of this dividend is Friday, August 28th. Labcorp’s payout ratio is presently 23.82%.
Wall Street Analyst Weigh In
LH has been the topic of a number of recent research reports. Truist Financial increased their target price on Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Barclays lifted their target price on Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Robert W. Baird set a $352.00 target price on shares of Labcorp in a research report on Friday, July 31st. Finally, Mizuho set a $355.00 price target on shares of Labcorp in a research note on Monday, August 10th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $330.00.
Insider Transactions at Labcorp
In related news, Director Kerrii Anderson sold 3,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $318.02, for a total value of $954,060.00. Following the sale, the director owned 6,563 shares of the company’s stock, valued at $2,087,165.26. The trade was a 31.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam Schechter sold 4,669 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total value of $1,495,807.53. Following the completion of the sale, the chief executive officer owned 102,565 shares in the company, valued at $32,858,749.05. This trade represents a 4.35% 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. In the last 90 days, insiders sold 8,919 shares of company stock worth $2,826,593. 0.84% of the stock is currently owned by insiders.
About Labcorp
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.
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