OP Asset Management Ltd Invests $2.32 Million in Labcorp Holdings Inc. $LH

OP Asset Management Ltd bought a new stake in Labcorp Holdings Inc. (NYSE:LH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,699 shares of the medical research company’s stock, valued at approximately $2,321,000.

Other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Labcorp during the fourth quarter worth $26,000. Hilton Head Capital Partners LLC bought a new position in Labcorp during the 4th quarter valued at $27,000. JPL Wealth Management LLC purchased a new position in Labcorp during the 3rd quarter worth $28,000. Eagle Bay Advisors LLC purchased a new position in Labcorp during the fourth quarter worth about $29,000. Finally, DV Equities LLC purchased a new position in shares of Labcorp in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity at Labcorp

In related news, EVP Kathryn W. Kyle sold 762 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,006,212.57. This trade represents a 16.66% 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 H. Schechter sold 5,903 shares of Labcorp stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction 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. The trade was a 5.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LH has been the subject of several recent analyst reports. Robert W. Baird set a $334.00 target price on Labcorp in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Evercore restated an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Finally, Wall Street Zen cut shares of Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $308.00.

Labcorp Price Performance

LH stock opened at $272.09 on Friday. The firm has a 50 day moving average of $260.97 and a 200-day moving average of $265.49. The firm has a market capitalization of $22.31 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 1.90 and a beta of 0.90. 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 Holdings Inc. has a 12 month low of $241.81 and a 12 month high of $293.72.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping the consensus estimate of $4.09 by $0.16. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, sell-side analysts predict that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Announces Dividend

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

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.