Illinois Municipal Retirement Fund Acquires 8,336 Shares of Labcorp Holdings Inc. $LH

Illinois Municipal Retirement Fund lifted its holdings in Labcorp Holdings Inc. (NYSE:LH) by 16.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,536 shares of the medical research company’s stock after purchasing an additional 8,336 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Labcorp were worth $15,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Labcorp in the 4th quarter worth about $26,000. Hilton Head Capital Partners LLC bought a new position in Labcorp during the 4th quarter valued at about $27,000. JPL Wealth Management LLC purchased a new stake in shares of Labcorp during the 3rd quarter valued at about $28,000. Eagle Bay Advisors LLC purchased a new stake in shares of Labcorp during the 4th quarter valued at about $29,000. Finally, DV Equities LLC bought a new stake in shares of Labcorp in the fourth quarter worth approximately $29,000. 95.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LH has been the subject of several research reports. Robert W. Baird boosted their price objective on shares of Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a report on Monday. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Evercore reissued an “outperform” rating and set a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Finally, Bank of America raised their price target on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Labcorp presently has an average rating of “Moderate Buy” and a consensus price target of $314.40.

Labcorp Price Performance

Shares of NYSE:LH opened at $282.06 on Friday. The firm’s 50 day moving average price is $265.63 and its 200-day moving average price is $267.80. Labcorp Holdings Inc. has a twelve month low of $241.81 and a twelve month high of $293.72. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $23.13 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.81 and a beta of 0.89.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the firm posted $3.84 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities research analysts expect that Labcorp Holdings Inc. will post 18 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 paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 28th. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

Insider Activity

In related news, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction on Monday, May 11th. The stock was sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the transaction, the chief executive officer directly owned 107,234 shares in the company, valued at approximately $27,291,053. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the sale, the executive vice president directly owned 6,746 shares of the company’s stock, valued at $1,930,637.74. This represents a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 6,991 shares of company stock valued at $1,796,696 in the last 90 days. 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.