Labcorp Holdings Inc. $LH Holdings Trimmed by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC reduced its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 0.5% during the third quarter, Holdings Channel.com reports. The fund owned 610,845 shares of the medical research company’s stock after selling 3,190 shares during the quarter. Labcorp accounts for approximately 3.2% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its 11th largest position. Beck Mack & Oliver LLC’s holdings in Labcorp were worth $175,349,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. 8 Knots Management LLC boosted its holdings in Labcorp by 96.6% during the third 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 in the last quarter. Ameriprise Financial Inc. boosted its position in Labcorp by 5.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 258,820 shares of the medical research company’s stock worth $74,299,000 after acquiring an additional 13,951 shares during the period. Creative Planning grew its stake in Labcorp by 9.3% during the 3rd quarter. Creative Planning now owns 16,798 shares of the medical research company’s stock valued at $4,822,000 after acquiring an additional 1,436 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Labcorp by 4.2% in the 3rd quarter. AQR Capital Management LLC now owns 163,327 shares of the medical research company’s stock valued at $46,419,000 after purchasing an additional 6,614 shares during the period. Finally, Zacks Investment Management lifted its position in shares of Labcorp by 2.8% in the third quarter. Zacks Investment Management now owns 83,687 shares of the medical research company’s stock worth $24,023,000 after purchasing an additional 2,318 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Price Performance

NYSE LH opened at $263.57 on Friday. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The stock’s 50-day moving average is $272.59 and its two-hundred day moving average is $269.92. The firm has a market cap of $21.72 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.42 and a quick ratio of 1.23.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.12. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the firm posted $3.45 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. On average, analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 27th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, February 27th. Labcorp’s dividend payout ratio (DPR) is 27.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. increased their price objective on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Weiss Ratings raised Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Morgan Stanley restated an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Finally, Piper Sandler raised their price target on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $304.82.

Insiders Place Their Bets

In other news, EVP Brian J. Caveney sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the completion of the transaction, the executive vice president directly owned 30,107 shares in the company, valued at $8,619,935.17. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 8,705 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total value of $2,437,051.80. Following the completion of the sale, the chief executive officer directly owned 80,773 shares of the company’s stock, valued at $22,613,209.08. This represents a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,113 shares of company stock worth $4,547,450 over the last quarter. 0.84% of the stock is currently owned by company 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.