Storgate LLC Takes Position in Labcorp Holdings Inc. $LH

Storgate LLC bought a new stake in Labcorp Holdings Inc. (NYSE:LH) in the fourth quarter, Holdings Channel reports. The institutional investor bought 2,710 shares of the medical research company’s stock, valued at approximately $680,000.

A number of other institutional investors also recently modified their holdings of LH. Brighton Jones LLC bought a new position in shares of Labcorp in the fourth quarter valued at approximately $991,000. Integrated Wealth Concepts LLC raised its stake in shares of Labcorp by 7.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after acquiring an additional 177 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Labcorp by 52.2% in the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after acquiring an additional 121,304 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Labcorp in the second quarter valued at approximately $5,873,000. Finally, First Trust Advisors LP raised its stake in shares of Labcorp by 83.2% in the second quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock valued at $22,588,000 after acquiring an additional 39,087 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling at Labcorp

In other news, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $254.50, for a total value of $1,502,313.50. Following the completion of the transaction, the chief executive officer owned 107,234 shares of the company’s stock, valued at $27,291,053. The trade was a 5.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the completion of the transaction, the executive vice president directly owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This trade represents a 16.66% decrease in their position. 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. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Morgan Stanley restated an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Finally, Wall Street Zen cut shares of Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and a consensus price target of $308.00.

Labcorp Stock Performance

Shares of Labcorp stock opened at $265.45 on Friday. The firm has a fifty day moving average of $262.65 and a two-hundred day moving average of $265.77. The stock has a market capitalization of $21.77 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 1.86 and a beta of 0.90. Labcorp Holdings Inc. has a 52 week low of $241.81 and a 52 week high of $293.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73.

Labcorp (NYSE:LH) last issued its earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating the consensus estimate of $4.09 by $0.16. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities research analysts predict that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were given a dividend of $0.72 per share. The ex-dividend date was Friday, May 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s payout ratio is presently 25.51%.

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.