Boston Partners Takes Position in Labcorp Holdings Inc. $LH

Boston Partners bought a new stake in Labcorp Holdings Inc. (NYSE:LH) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,913,695 shares of the medical research company’s stock, valued at approximately $480,271,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions 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 raised its stake in 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 period. Cinctive Capital Management LP bought a new position in Labcorp during the 3rd quarter worth $3,297,000. 8 Knots Management LLC increased its position 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 buying an additional 100,675 shares during the period. Finally, Persistent Asset Partners Ltd grew its holdings in shares of Labcorp by 90.0% during the 3rd quarter. Persistent Asset Partners Ltd now owns 8,994 shares of the medical research company’s stock worth $2,582,000 after purchasing an additional 4,260 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Trading Up 0.1%

LH opened at $265.45 on Friday. The stock has a market cap of $21.77 billion, a PE ratio of 23.51, a PEG ratio of 1.86 and a beta of 0.90. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $262.65 and a 200-day moving average of $265.77. Labcorp Holdings Inc. has a 52 week low of $241.81 and a 52 week high of $293.72.

Labcorp (NYSE:LH) last posted its quarterly earnings data 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. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities research analysts predict that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

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

Insider Activity at Labcorp

In related news, EVP Kathryn W. Kyle sold 762 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the completion of the sale, the executive vice president owned 3,813 shares in the company, valued at approximately $1,006,212.57. The trade was a 16.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction on 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 owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This represents a 5.22% decrease in their position. 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 own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Robert W. Baird set a $334.00 target price on Labcorp in a report on Friday, May 1st. Piper Sandler boosted their price objective on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Finally, Evercore reaffirmed an “outperform” rating and set a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $308.00.

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.