Janney Montgomery Scott LLC Increases Stock Position in Labcorp Holdings Inc. $LH

Janney Montgomery Scott LLC raised its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 6.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 35,888 shares of the medical research company’s stock after acquiring an additional 2,070 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Labcorp were worth $9,575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Labcorp by 0.4% in 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 purchasing an additional 37,197 shares during the last quarter. Victory Capital Management Inc. boosted its position 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. Allspring Global Investments Holdings LLC increased its holdings in Labcorp by 10.4% in the 4th 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 in the last quarter. Geode Capital Management LLC increased 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 buying an additional 13,775 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Labcorp by 15.9% in 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 buying an additional 289,029 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of LH opened at $286.69 on Friday. The firm has a market capitalization of $23.51 billion, a P/E ratio of 25.39, a PEG ratio of 1.99 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72. The business has a fifty day moving average of $261.96 and a 200 day moving average of $266.10.

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

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, May 29th. Labcorp’s dividend payout ratio is 25.51%.

Analyst Ratings Changes

LH has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Evercore reiterated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $308.00.

Insider Buying and Selling

In related news, EVP Kathryn W. Kyle sold 762 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $263.89, for a total value of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares of the company’s stock, valued at approximately $1,006,212.57. This trade represents a 16.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the sale, the chief executive officer owned 107,234 shares of the company’s stock, valued at $27,291,053. This trade represents a 5.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.84% of the company’s stock.

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.