Comerica Bank Boosts Stake in Labcorp Holdings Inc. $LH

Comerica Bank boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 13.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 32,175 shares of the medical research company’s stock after acquiring an additional 3,796 shares during the period. Comerica Bank’s holdings in Labcorp were worth $8,072,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Labcorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock worth $2,471,326,000 after buying an additional 37,197 shares during the period. Victory Capital Management Inc. lifted its holdings in 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 buying an additional 440,224 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Labcorp by 10.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company’s stock worth $554,728,000 after buying an additional 207,962 shares during the period. Wellington Management Group LLP lifted its holdings in 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 buying an additional 289,029 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Labcorp by 4.0% during the third quarter. Bank of America Corp DE now owns 726,090 shares of the medical research company’s stock worth $208,431,000 after buying an additional 27,879 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 548 shares of Labcorp stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $284.91, for a total transaction of $156,130.68. Following the sale, the executive vice president owned 2,579 shares of the company’s stock, valued at approximately $734,782.89. The trade was a 17.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian J. Caveney sold 1,500 shares of Labcorp stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total transaction of $429,465.00. Following the completion of the sale, the executive vice president owned 30,107 shares of the company’s stock, valued at $8,619,935.17. This trade represents a 4.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 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 Price Performance

NYSE:LH opened at $257.38 on Thursday. Labcorp Holdings Inc. has a 52 week low of $234.15 and a 52 week high of $293.72. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $21.15 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.80 and a beta of 1.02. The stock’s 50-day moving average price is $271.20 and its 200-day moving average price is $267.56.

Labcorp (NYSE:LH) last posted its earnings results on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.12. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. As a group, equities analysts expect that Labcorp Holdings Inc. will post 17.67 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 29th. Labcorp’s dividend payout ratio (DPR) is 27.53%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Robert W. Baird increased their price objective on Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. increased their price objective on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Finally, Wall Street Zen downgraded Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $307.20.

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.