Labcorp Holdings Inc. $LH Stock Holdings Lessened by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Labcorp Holdings Inc. (NYSE:LH) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 855,596 shares of the medical research company’s stock after selling 103,543 shares during the period. Wellington Management Group LLP’s holdings in Labcorp were worth $239,567,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in Labcorp by 106.5% in the 1st quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company’s stock valued at $15,470,000 after purchasing an additional 29,899 shares during the last quarter. Geode Capital Management LLC grew its position in Labcorp by 0.6% in the 4th 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. CIBC Asset Management Inc increased its stake in shares of Labcorp by 61.3% in the fourth quarter. CIBC Asset Management Inc now owns 19,974 shares of the medical research company’s stock valued at $5,011,000 after purchasing an additional 7,592 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Labcorp by 103.1% during 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 buying an additional 2,719,475 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Labcorp by 5.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,338 shares of the medical research company’s stock worth $44,629,000 after buying an additional 8,748 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Labcorp Price Performance

NYSE LH opened at $335.90 on Monday. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $341.80. The firm has a market capitalization of $27.24 billion, a PE ratio of 27.78, a P/E/G ratio of 1.94 and a beta of 0.87. The company’s 50 day simple moving average is $300.21 and its 200 day simple moving average is $278.96. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 16.74% and a net margin of 6.99%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $4.35 earnings per share. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, equities research analysts forecast that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 28th. Labcorp’s dividend payout ratio (DPR) is presently 23.82%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LH. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $306.00 price objective on shares of Labcorp in a report on Friday, July 31st. Morgan Stanley boosted their price target on Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Bank of America increased their price target on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Weiss Ratings raised Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and a consensus target price of $330.00.

Insider Activity

In other news, Director Kerrii B. Anderson sold 3,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $318.02, for a total transaction of $954,060.00. Following the completion of the sale, the director directly owned 6,563 shares of the company’s stock, valued at $2,087,165.26. This trade represents a 31.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 92 shares of Labcorp stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $26,329.48. Following the completion of the transaction, the executive vice president owned 3,904 shares in the company, valued at $1,117,285.76. The trade was a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 9,681 shares of company stock valued at $3,027,677 in the last ninety days. 0.84% of the stock is owned by company insiders.

Labcorp Company 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.