Councilmark Asset Management LLC Makes New Investment in Labcorp Holdings Inc. $LH

Councilmark Asset Management LLC acquired a new stake in Labcorp Holdings Inc. (NYSE:LH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,969 shares of the medical research company’s stock, valued at approximately $1,951,000. Labcorp accounts for 1.0% of Councilmark Asset Management LLC’s investment portfolio, making the stock its 24th biggest position.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Labcorp by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock valued at $2,471,326,000 after acquiring an additional 37,197 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Labcorp by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock valued at $607,241,000 after purchasing an additional 22,170 shares during the period. Geode Capital Management LLC raised its stake in shares of Labcorp by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock worth $534,023,000 after purchasing an additional 13,775 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings 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 purchasing an additional 289,029 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the topic of several recent research reports. Bank of America boosted their price objective on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Truist Financial boosted their price objective on shares of Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Morgan Stanley increased their target price on shares of Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Robert W. Baird set a $352.00 price target on shares of Labcorp in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $330.00.

Labcorp Price Performance

Labcorp stock opened at $337.76 on Wednesday. The firm has a market capitalization of $27.39 billion, a PE ratio of 27.94, a P/E/G ratio of 1.96 and a beta of 0.87. Labcorp Holdings Inc. has a 52 week low of $244.52 and a 52 week high of $339.76. The firm’s 50-day simple moving average is $295.47 and its 200 day simple moving average is $277.71. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.21. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, equities research analysts predict that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 28th. Labcorp’s dividend payout ratio (DPR) is presently 23.82%.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 3,000 shares of Labcorp stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $318.02, for a total transaction of $954,060.00. Following the sale, the director directly owned 6,563 shares of the company’s stock, valued at approximately $2,087,165.26. The trade was a 31.37% decrease in their ownership of the stock. 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 Amy B. Summy sold 924 shares of Labcorp stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total value of $283,427.76. Following the sale, the executive vice president owned 6,956 shares in the company, valued at $2,133,683.44. This represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 9,681 shares of company stock valued at $3,027,677. Corporate insiders own 0.84% of the company’s stock.

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.