Cardinal Capital Management Buys 1,773 Shares of Labcorp Holdings Inc. $LH

Cardinal Capital Management lifted its stake in Labcorp Holdings Inc. (NYSE:LH) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,257 shares of the medical research company’s stock after purchasing an additional 1,773 shares during the period. Labcorp accounts for about 1.5% of Cardinal Capital Management’s investment portfolio, making the stock its 18th biggest holding. Cardinal Capital Management’s holdings in Labcorp were worth $12,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Labcorp during the second quarter valued at about $168,222,000. Bank of New York Mellon Corp bought a new position in Labcorp in the second quarter worth about $142,125,000. Madison Asset Management LLC bought a new position in Labcorp in the second quarter worth about $133,460,000. Bessemer Group Inc. raised its stake in Labcorp by 47.3% in the first quarter. Bessemer Group Inc. now owns 579,036 shares of the medical research company’s stock worth $154,493,000 after buying an additional 185,847 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Labcorp by 19.4% in the first quarter. Royal Bank of Canada now owns 820,442 shares of the medical research company’s stock worth $218,901,000 after buying an additional 133,549 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Stock Performance

Shares of Labcorp stock opened at $323.39 on Thursday. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $341.80. The firm has a market capitalization of $26.23 billion, a P/E ratio of 26.75, a P/E/G ratio of 1.84 and a beta of 0.87. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $320.56 and a two-hundred day simple moving average of $290.33.

Labcorp (NYSE:LH) last released its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.21. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, equities analysts forecast that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 24th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $2.88 annualized dividend and a yield of 0.9%. Labcorp’s payout ratio is presently 23.82%.

Insider Buying and Selling

In other Labcorp news, CEO Adam H. Schechter sold 4,669 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the completion of the transaction, the chief executive officer owned 102,565 shares of the company’s stock, valued at approximately $32,858,749.05. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kerrii B. Anderson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $318.02, for a total transaction of $954,060.00. Following the transaction, the director directly owned 6,563 shares of the company’s stock, valued at $2,087,165.26. This represents a 31.37% 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 have sold 8,593 shares of company stock valued at $2,733,295 over the last quarter. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LH. Robert W. Baird set a $352.00 price objective on Labcorp in a research report on Friday, July 31st. JPMorgan Chase & Co. upped their target price on Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Bank of America increased their target price on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Morgan Stanley increased their target price on Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Mizuho set a $355.00 target price on Labcorp in a research note on Monday, August 10th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $337.73.

Labcorp Company Profile

Labcorp (NYSE: LH), formally Laboratory Corporation of America Holdings, is a global life sciences and healthcare company headquartered in Burlington, North Carolina. The company provides laboratory testing and diagnostic services to physicians, hospitals, health systems, employers, insurers and consumers.

Through its diagnostics operations, Labcorp offers routine and specialty testing, oncology diagnostics, women’s health testing, genetic testing, pathology services and other laboratory services.