Smithbridge Asset Management Inc. DE Sells 13,214 Shares of Labcorp Holdings Inc. $LH

Smithbridge Asset Management Inc. DE cut its stake in Labcorp Holdings Inc. (NYSE:LH) by 49.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,324 shares of the medical research company’s stock after selling 13,214 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Labcorp were worth $3,555,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

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

Labcorp Stock Up 1.6%

Shares of NYSE:LH opened at $284.38 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. The business has a 50 day simple moving average of $261.70 and a two-hundred day simple moving average of $265.94. Labcorp Holdings Inc. has a 1 year low of $241.81 and a 1 year high of $293.72. The firm has a market capitalization of $23.32 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90.

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

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s payout ratio is 25.51%.

Insider Transactions at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of the stock in a transaction on Monday, May 11th. The stock was 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. This trade represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of Labcorp stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $263.89, for a total value of $201,084.18. Following the completion of the transaction, the executive vice president owned 3,813 shares in the company, valued at $1,006,212.57. This trade represents a 16.66% 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. 0.84% of the stock is owned by corporate insiders.

Labcorp 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.