Labcorp Holdings Inc. $LH Shares Sold by Insight Inv LLC

Insight Inv LLC lessened its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 63.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,410 shares of the medical research company’s stock after selling 2,494 shares during the period. Insight Inv LLC’s holdings in Labcorp were worth $395,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Guardian Wealth Management Inc. boosted its holdings in shares of Labcorp by 2.0% during the 2nd quarter. Guardian Wealth Management Inc. now owns 6,451 shares of the medical research company’s stock worth $1,806,000 after purchasing an additional 124 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Labcorp by 6.0% in the second quarter. HB Wealth Management LLC now owns 3,955 shares of the medical research company’s stock valued at $1,107,000 after purchasing an additional 224 shares during the last quarter. Saudi Central Bank lifted its position in Labcorp by 88.5% during the second quarter. Saudi Central Bank now owns 5,768 shares of the medical research company’s stock worth $1,615,000 after buying an additional 2,708 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich lifted its position in Labcorp by 2.2% during the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 14,126 shares of the medical research company’s stock worth $3,955,000 after buying an additional 310 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in Labcorp by 64.4% during the second quarter. Concurrent Investment Advisors LLC now owns 5,369 shares of the medical research company’s stock worth $1,504,000 after buying an additional 2,103 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity

In other Labcorp news, EVP Kathryn W. Kyle sold 92 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $26,329.48. Following the completion of the transaction, the executive vice president owned 3,904 shares of the company’s stock, valued at $1,117,285.76. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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. Also, EVP Amy B. Summy sold 924 shares of Labcorp stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total transaction of $283,427.76. Following the sale, the executive vice president owned 6,956 shares of the company’s stock, valued at approximately $2,133,683.44. This represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 9,681 shares of company stock worth $3,027,677. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Trading Down 1.4%

LH opened at $326.83 on Friday. Labcorp Holdings Inc. has a one year low of $244.52 and a one year high of $341.80. The stock has a market capitalization of $26.51 billion, a PE ratio of 27.03, a P/E/G ratio of 1.85 and a beta of 0.88. The business’s 50 day moving average price is $306.88 and its 200 day moving average price is $280.62. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80.

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 the consensus estimate of $4.78 by $0.21. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the business posted $4.35 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, equities research analysts expect that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.9%. Labcorp’s dividend payout ratio is currently 23.82%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LH. Weiss Ratings upgraded Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Robert W. Baird set a $352.00 price target on Labcorp in a report on Friday, July 31st. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. 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. Finally, Truist Financial raised their price objective on shares of Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $330.00.

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.