Labcorp Holdings Inc. $LH Holdings Boosted by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 14.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,915 shares of the medical research company’s stock after buying an additional 1,621 shares during the period. NEOS Investment Management LLC’s holdings in Labcorp were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LH. Victory Capital Management Inc. increased its stake 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 worth $1,343,922,000 after acquiring an additional 2,719,475 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position 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 holdings 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 acquiring an additional 13,775 shares during the period. Wellington Management Group LLP lifted its position in shares of Labcorp by 15.9% during the 3rd 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 last quarter. Finally, Boston Partners acquired a new position in shares of Labcorp during the fourth quarter worth approximately $480,271,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Mizuho set a $355.00 target price on Labcorp in a report on Monday, August 10th. Truist Financial upped their price target 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. Finally, Weiss Ratings raised Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $330.00.

Insider Buying and Selling

In related news, EVP Bryan Vaughn sold 234 shares of Labcorp stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the sale, the executive vice president owned 6,746 shares of the company’s stock, valued at approximately $1,930,637.74. This trade represents a 3.35% decrease in their position. The sale was disclosed in a 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Amy Summy sold 924 shares of the company’s 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 transaction, the executive vice president directly owned 6,956 shares of the company’s stock, valued at approximately $2,133,683.44. This trade represents a 11.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 8,919 shares of company stock valued at $2,826,593. Corporate insiders own 0.84% of the company’s stock.

Labcorp Trading Down 0.0%

LH opened at $326.83 on Monday. The firm’s fifty day moving average is $306.88 and its two-hundred day moving average is $280.61. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80. The firm has a market cap of $26.51 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. Labcorp Holdings Inc. has a twelve month low of $244.52 and a twelve month high of $341.80.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) 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 the consensus estimate of $3.71 billion. During the same period in the prior year, the company earned $4.35 earnings per share. The company’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. Equities research analysts anticipate that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s payout ratio is currently 23.82%.

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.