Swiss Life Asset Management Ltd Grows Stock Position in Labcorp Holdings Inc. $LH

Swiss Life Asset Management Ltd increased its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 121.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,029 shares of the medical research company’s stock after purchasing an additional 20,276 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Labcorp were worth $10,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LH. Vanguard Group Inc. raised its position in Labcorp by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,879,225 shares of the medical research company’s stock worth $2,593,395,000 after buying an additional 156,717 shares during the last quarter. State Street Corp boosted its holdings in shares of Labcorp by 0.9% in the second quarter. State Street Corp now owns 3,863,039 shares of the medical research company’s stock valued at $1,014,086,000 after acquiring an additional 36,003 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Labcorp by 20.0% during the third quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock worth $756,878,000 after acquiring an additional 440,224 shares during the period. Wellington Management Group LLP increased its stake in shares of Labcorp by 15.9% during the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after acquiring an additional 289,029 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Labcorp by 3.5% during the second quarter. JPMorgan Chase & Co. now owns 1,303,307 shares of the medical research company’s stock worth $342,131,000 after purchasing an additional 43,661 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LH shares. Morgan Stanley restated an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Robert W. Baird increased their target price on Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. raised their price target on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Finally, Piper Sandler lifted their price target on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $304.82.

Insider Transactions at Labcorp

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 548 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $284.91, for a total transaction of $156,130.68. Following the sale, the executive vice president directly owned 2,579 shares in the company, valued at approximately $734,782.89. The trade was a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 8,705 shares of the company’s stock in a transaction 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 in the company, valued at $22,613,209.08. This trade represents a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,113 shares of company stock valued at $4,547,450. Company insiders own 0.84% of the company’s stock.

Labcorp Stock Down 0.3%

LH stock opened at $263.18 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $273.72 and its 200 day moving average price is $269.56. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The company has a market cap of $21.69 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.80 and a beta of 1.01.

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

Labcorp Dividend Announcement

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

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.